Historical Stock Chart
1 Year : From Aug 2017 to Aug 2018
By Maria Armental
CenturyLink Inc.'s (CTL) shares rose 10% to $19.26 following the release of fourth-quarter results that got a one-time $1.1 billion boost from the U.S. tax overhaul.
The telecom provider, which last year bought Level 3 communications in a roughly $25 billion deal, forecast 2018 adjusted earnings before interest, taxes, depreciation and amortization, or Ebitda, of $8.75 billion to $8.95 billion, compared with analysts' projected $8.6 billion.
Overall, fourth-quarter profit surged to $1.11 billion, or $1.26 a share, from $42 million, or 8 cents a share, a year earlier. On an adjusted basis, profit was 18 cents a share.
Revenue rose 24% to $5.32 billion.
Analysts surveyed by Thomson Reuters expected 30 cents a share on $5.69 billion in revenue.
Through Wednesday's closing, the company's stock was down 28% over the past 12 months, lagging the market by a wide margin.
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(END) Dow Jones Newswires
February 14, 2018 17:37 ET (22:37 GMT)
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