CenturyLink Profit Misses Estimates; Cuts FY Guidance

(RTTNews) - Communications services provider CenturyLink Inc (CTL) on Wednesday reported second-quarter net earnings of $143 million or $0.26 per share compared with $193 million or $0.34 per share last year.

Excluding items, adjusted earnings for the quarter were $0.55 per share compared with $0.72 per share a year ago.

Revenues for the quarter were $4.42 billion compared with $4.54 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.60 per share on revenues of $4.43 billion for the quarter. Analysts' estimates typically exclude special items.

Operating margin fell to 12.4% from 14.4% last year.

For the third quarter, the company expects adjusted earnings of $0.53 to $0.58 per share and operating revenues of $4.42 billion to $4.47 billion. Analysts expect earnings of $0.62 per share and revenues of $4.47 billion.

For the full year 2015, the company now expects adjusted earnings of $2.35 to $2.55 per share and operating revenues of $17.7 billion to $17.9 billion. Earlier, it expected earnings of $2.50 to $2.70 per share and revenues of $17.9 billion to $18.1 billion.

Analysts expect earnings of $2.53 per share on revenues of $17.84 billion for 2015.