Qwest Reports Q3

Qwest Communications reported solid third quarter results

October 31, 2006

1 Min Read

DENVER -- Qwest Communications International Inc. (NYSE: Q) today reported solid third quarter results highlighted by higher revenue, strong growth in earnings per share and nine consecutive quarters of year-over-year margin expansion. For the quarter, Qwest reported net income of $194 million, or $0.10 per basic share compared with a loss of $144 million, or ($0.08) per share in the third quarter 2005.

"We are very pleased that Qwest continues to gain momentum with its third quarter of sequential improvement in earnings per share," said Richard C. Notebaert, Qwest chairman and CEO. "Customers are embracing our higher-value, higher ARPU products that contribute to our revenue while our cost structure and investments remain focused and rational."

Financial Results
Qwest reported revenue of $3.5 billion for the third quarter, benefiting from improving sales within Qwest's diverse portfolio of growth products, including high-speed Internet, advanced data products and digital voice service. Year-ago revenues included the impact of $52 million recognized in the third quarter of 2005 from a large government contract.

"We continue to deliver on our expectations for the year," said Oren G. Shaffer, Qwest vice chairman and CFO. "Our margins continue to expand toward our target of the mid-30 percent range, our free cash flow is squarely on track for the year, and we continue to pursue additional opportunities to expand top-line growth."

Qwest Communications International Inc. (NYSE: Q)

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like