CenturyLink Earnings: Here’s Why Investors Don’t Like These Results
CenturyLink, Inc. (NYSE:CTL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 3.16%.
CenturyLink, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 66.15% to $1.08 in the quarter versus EPS of $0.65 in the year-earlier quarter.
Revenue: Decreased 1.87% to $4.53 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: CenturyLink, Inc. reported adjusted EPS income of $1.08 per share. By that measure, the company beat the mean analyst estimate of $0.67. It beat the average revenue estimate of $4.52 billion.
Quoting Management: “We generated strong financial results for the first half of 2013 as our operating revenues were in line with and operating cash flow exceeded our expectations. We have experienced higher than expected sales trends of recurring revenue services and continue to see a strong pipeline of sales opportunities. Our cross-selling initiatives in our managed hosting segment are gaining traction and driving results,” said Glen F. Post III, chief executive officer and president.
Key Stats (on next page)…