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Qwest Reports Lower Profits, Earnings

Qwest Communications International Inc. (NYSE: Q), the latest former Baby Bell slated to disappear, reported lower revenue of $2.93 billion in its second quarter as it prepared to be acquired by CenturyLink Inc. (NYSE: CTL). The latter firm reported revenue of $1.8 billion for the quarter, helped by its acquisition of Embarq.

CenturyLink -- formerly called CenturyTel -- has been able to extract profits from landlines where other telecommunications firms have been challenged. Even so, both firms said the number of their respective landlines declined. AT&T and Verizon Communications, the two remaining former Baby Bells, long ago moved into mobile communications as their new profit drivers.

Read the rest of the story at InformationWeek.

— W. David Gardner, InformationWeek

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