CenturyLink: 4Q Earnings Snapshot
MONROE, La. (AP) _ CenturyLink Inc. (CTL) on Wednesday reported a fourth-quarter loss of $2.41 billion, after reporting a profit in the same period a year earlier.
The Monroe, Louisiana-based company said it had a loss of $2.26 per share. Earnings, adjusted for non-recurring costs, came to 37 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The communications company posted revenue of $5.78 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $5.8 billion.
For the year, the company reported a loss of $1.73 billion, or $1.63 per share, swinging to a loss in the period. Revenue was reported as $23.44 billion.
CenturyLink shares have decreased 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased almost 10 percent. In the final minutes of trading on Wednesday, shares hit $14.70, a decrease of 15 percent in the last 12 months.