CenturyLink - Lumen

CenturyLink (CTL) Q1 Earnings Beat, Revenues Decline Y/Y

CenturyLink, Inc. CTL reported mixed first-quarter 2019 financial results, wherein the top line missed the Zacks Consensus Estimate but the bottom line surpassed the same.

Net Loss

Net loss for the quarter was $6,165 million or loss of $5.77 per share against net income of $115 million or 11 cents per share in the year-ago quarter. The year-over-year deterioration was primarily due to lower revenues and higher operating expenses.

Net income (excluding integration and transformation costs, and special Items) came in at $360 million or 34 cents per share compared with $262 million or 25 cents per share in the prior-year quarter. The bottom line beat the Zacks Consensus Estimate by 7 cents.

Revenues

Quarterly operating revenues decreased 5% year over year to $5,647 million as the company had contract rerates from some of its large customers mainly in wholesale and global accounts. The top line lagged the consensus estimate of $5,728 million.

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https://finance.yahoo.com/news/centuryli...11899.html