CenturyTel Inc., the company that is in the process of buying Qwest, has reported sharply higher net income for the first quarter, and said it added more broadband customers while losing fewer phone subscribers. CenturyTel, which brands itself as CenturyLink, said its net income more than tripled to USD253 million in the first three months of the year, compared to USD67 million a year ago. Most of the increase was due to the acquisition of Embarq last year, which tripled the company’s size. Revenue rose to USD1.8 billion narrowly beating forecasts of USD1.79 billion.
Two weeks ago, CenturyTel agreed to buy Qwest Communications International Inc. for about USD10 billion in stock. If approved by regulators, the deal could close next year.