CTL: CenturyLink Stock Up Despite Falling Earnings

It predicts current quarter results in line with estimates

   

CTL: CenturyLink Stock Up Despite Falling Earnings

On Wednesday, telecommunications provider CenturyLink (CTL) reported better-than-expected quarterly profits and operating revenue. Investors liked the news, sending CTL stock surging more than 5% in Thursday morning trading.

CTL shares rose after CenturyLink said it earned $203 million during the first quarter, down from $298 million in the prior-year period. Adjusted EPS came in at 66 cents, topping the range of between 58 cents and 63 cents that CTL had forecast in February, the Wall Street Journal noted.

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During the quarter, operating revenue rose slightly to $4.54 billion. CTL had previously estimated first-quarter revenue of between $4.46 billion and $4.51 billion.

Looking forward, CTL said it expects second-quarter operating revenue to be between $4.48 billion to $4.53 billion. Analysts are looking for revenue of $4.49 billion. Adjusted second-quarter EPS is predicted between 62 and 67 cents. Wall Street is looking for second-quarter earnings of 64 cents per share.

CTL stock closed at $34.65 per share on Wednesday.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/05/ctl-centurylink-stock-despite-falling-earnings/.

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