CenturyLink Shares Slip After Revenue Falls Short -- Market Mover
November 08 2018 - 5:24PM
Dow Jones News
Shares in CenturyLink Inc. fell roughly 5% post market after the
internet and phone-service provider slightly missed revenue
forecasts for the third quarter, though its profit was in line with
forecasts. Revenue for CenturyLink fell 4% to $5.82 billion, as the
company reported declines across its business units. Profit rose
45% to $272 million, or 25 cents a share. Excluding items including
costs tied to the integration of Level 3 Communications, the profit
was 30 cents a share. Analysts polled by Refinitiv expected an
adjusted profit of 30 cents a share on revenue of $5.88 billion.
The company maintained its full-year outlook on adjusted Ebitda of
between $9 billion and $9.15 billion. Lower spending on capital
expenditures helped CenturyLink raise its annual free cash flow
target range to $4 billion to $4.2 billion, up from $3.6 billion to
$3.8 billion. (bowdeya.tweh@wsj.com; @BowKnowsBiz)
(END) Dow Jones Newswires
November 08, 2018 17:09 ET (22:09 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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