Qwest: Full year net profit up despite 4Q decline

17 Feb 2010

US-based fixed line operator Qwest Communications reported net profit of USD662 million for the twelve months ended 31 December 2009, up from USD652 million a year earlier. The growth came despite a 39% decline in net profit for the final quarter of the year, down from USD177 million in 4Q08, to USD108 million a year later. Total revenues for the full year declined by 8.6% year-on-year, down to USD12.3 billion, a decline that can be largely attributed to customer losses in the telco’s core fixed line business. The company saw over 1.2 million fixed line subscribers walk away from its business in the twelve-month period, ending December 2009 with 10.26 million access lines in service. Traditional fixed line losses were partially offset by continued growth in Qwest’s broadband, video and mobile operations. The company reported 2.97 million broadband subscribers by year-end 2009, as well as 880,000 video connections and 850,000 cellular customers, up from 2.89 million, 798,000 and 717,000 subscribers respectively.

United States, Qwest Communications International