Profits down at Embarq

5 Nov 2007

The US wireline carrier Embarq has reported a 2% fall in third-quarter net profits to USD157 million. The firm says a USD33 million one-off charge related to employee severance payments and the continuing decline of its traditional fixed voice business were behind the drop. Revenues for the three months to the end of September fell from USD1.61 billion in 2006 to USD1.59 billion this year. The decline in the voice sector is being brought about by the continued spread of cable-based VoIP services, which Embarq says are now available to around 60% of all households in its operating area.

United States