CenturyLink Earnings: Here’s Why Investors are Selling Shares Now
CenturyLink, Inc. (NYSE:CTL) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 13.46%.
CenturyLink, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 1.52% to $0.67 in the quarter versus EPS of $0.58 in the year-earlier quarter.
Revenue: Decreased 1.5% to $4.58 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: CenturyLink, Inc. reported adjusted EPS income of $0.67 per share. By that measure, the company missed the mean analyst estimate of $0.68. It missed the average revenue estimate of $4.59 billion.
Quoting Management: “CenturyLink has made significant progress over the last several years in improving our top-line revenue trend,” said Glen F. Post, III, chief executive officer and president. “We have continued to achieve strong operating revenue performance, cash flows and broadband growth, and we remain focused on enhancing long-term shareholder value. ”
Key Stats (on next page)…