Qwest: net income tumbles by 24%

7 Aug 2008

Qwest Communications International has reported that net income in the three months ended 30 June 2008 fell by 24% to USD188 million, compared to the same period of 2007. The decline is largely the result of a higher income tax bill in 2008. Operating revenues fell by 2% to USD3.38 billion; data, internet and video services rose by 9% year-on-year, while voice revenues fell by the same percentage to USD1.8 billion. Qwest said total access lines fell by 8.2% to 12.2 million at the end of June, as a result of increased competition from cable companies and wireless network operators. The company claims to be ahead of its fibre-to-the-home (FTTH) roll-out plan, with coverage of more than a million customers.

United States, Qwest Communications International