Level 3 Posts Q2 Loss on One-Time Items
BROOMFIELD, Colo. -- Level 3 Communications today reported results for the second quarter 2015.
"Level 3 continued to drive profitable growth, as evidenced by our expanding margins," said Jeff Storey, president and CEO of Level 3. "We executed on our integration plans, while maintaining our focus on the customer experience. Beyond integration, we are also making investments to position the company for long-term growth by advancing our product offerings, expanding our network footprint and simplifying our operating environment."
Total revenue was $2.061 billion for the second quarter 2015, compared to $2.030 billion on a pro forma basis, for the second quarter 2014, assuming the tw telecom acquisition took place on January 1, 2014.
In the second quarter 2015, the company generated net income of $150 million and basic earnings per share of $0.42, which excludes a loss on the extinguishment and modification of debt, related to refinancing transactions completed during the quarter. That loss was approximately $163 million or$0.46 per share. Including this loss, basic and diluted earnings per share were ($0.04). For the second quarter 2014, pro forma net income was $45 million and basic and diluted earnings per share were $0.13.
Level 3 Communications Inc. (NYSE: LVLT)