Qwest income up 17.8%

30 Jul 2009

Qwest Communications has reported net income of USD212 million in the three months ended 30 June 2009, a 17.8% year-on-year rise, up from USD180 million in 2Q08. Revenues fell from USD3.38 billion in 2008 to USD3.09 billion a year later. Operating expenses in the quarter dropped by USD219 million, or 8%, compared to the second quarter of 2008, ending June 2009 with USD2.59 billion. The major drivers of the decline were a 19% decrease in sales costs due to reduced facility costs and a decline in wireless MVNO-related expenses. Qwest’s fixed line telephony customer base continued to dwindle, ending the quarter with 10.89 million subscribers, down from 12.19 million a year earlier. Meanwhile, the company’s broadband segment noted a 7% year-on-year rise in subscribers, ending June with 2.92 million customers.

United States, Qwest Communications International