Windstream Takes Hit After Earnings

by Alyssa Oursler | August 9, 2012 1:26 pm

Shares of telephone company Windstream Corporation (NYSE:WIN[1]) took a dive today after the company reported that its net income had dwindled in Q2.

The company reported net income of $54.2 million, or 9 cents per share — a 44% drop year-over-year. Adjusted earnings came to 12 cents per share, which was a penny short of analyst estimates.

Windstream wasn’t able to improve profits despite the fact that revenue nearly doubled year-over-year, meeting analyst expectations of $1.54 billion. The company’s margins have shrunk for the past five consecutive quarters. This quarter, Windstream blamed higher prices and expenses.

WIN, a member of the S&P 500 (NYSE:SPY[2]), was in the red nearly 9% by early afternoon.

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