Centurylink Inc Stock Rises on Y2Y Revenue Growth

CTL shares surged more than 3% after hours

Centurylink Inc (NYSE:CTL) reported its latest quarterly earnings results late Wednesday, which saw revenue rise compared to the year-ago quarter.

Centurylink IncThe company unveiled first-quarter earnings of $115 million, or 11 cents per share. In the year-ago quarter, the company raked in earnings of $123 million, roughly 12 cents per share.

Centurylink impressed on the revenue front as the company raked in $5.95 billion in sales during the period to kick off its fiscal 2018. The company amassed revenue of $4.21 billion during the first quarter of fiscal 2018.

Diluted earnings came in at 11 cents per share, compared to diluted earnings per share of 30 cents in the year-ago quarter, while diluted earnings per share excluded $147 million of after-tax integration-related expenses and special items that were roughly 25 cents per share.

“We are focused on our sales force integration and driving profitable revenue growth while improving our customer experience,” said Jeff Storey, CenturyLink president and chief operating officer. “Our integration efforts to date are leading to the synergies we expected and helping us move toward sustainable improved profitability and cash flow generation.”

“We generated strong adjusted EBITDA during first quarter 2018 and exited the quarter with annual run-rate adjusted EBITDA synergies of approximately $215 million, a solid increase from the year-end 2017 annual run-rate of approximately $75 million,” said Sunit Patel, CenturyLink executive vice president and chief financial officer. “We remain confident in our outlook for the rest of the year and are reiterating our adjusted EBITDA and free cash flow outlook for full year 2018.”

CTL shares gained 3.4% after the bell Wednesday.

Article printed from InvestorPlace Media, https://investorplace.com/2018/05/centurylink-inc-ctl-2/.

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