CenturyLink and Windstream Q2 profits were lower year-over-year. CenturyLink’s Q2...
CenturyLink and Windstream Q2 profits were lower year-over-year. CenturyLink’s Q2 profit fell 36 percent to $74 million. Operating revenue rose 4.5 percent to $4.6 billion. CenturyLink said its drop in profit stemmed from higher operating expenses and lower operating margins.…
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Wells Fargo analyst Jennifer Fritzsche referred to CenturyLink Thursday as a “tortoise” of the bank’s coverage list, saying the company’s growth would remain “slow and steady (wins the race!).” Windstream’s profit dropped 44 percent to $54 million. Like CenturyLink, Windstream’s operating revenue also rose despite the drop in profit -- rising 50 percent to $1.5 billion. Windstream said its profit margin took a hit as a result of $18 million in merger and restructuring costs associated with its acquisition of Paetec (CD Nov 23 p9). Windstream CEO Jeff Gardner said during a conference call Thursday he expects the company’s revenue will improve for the rest of the year, particularly in Q4. Windstream shares fell 7.5 percent Thursday to close at $9.30.