CenturyLink reveals tough fourth quarter; Qwest acquisition on course

16 Feb 2011

CenturyLink has posted net income for the fourth quarter of 2010 of USD225 million, down 2% year-on-year as revenues fell even more sharply by 6% to USD1.72 billion. Gains from high speed internet growth were offset by lost revenue from its telephony services, including long-distance calls and network access. The company forecasts first-quarter 2011 sales to fall further to around USD1.68 billion. CenturyLink’s president and CEO, Glen F. Post III, said that the company’s pending purchase of Qwest is making cost-cutting a challenge. The acquisition is expected to close in April. To date the companies have secured a green light from 18 regulatory commissions, but still need approval from four more states and the Federal Communications Commission (FCC). The combined company will serve nearly 16 million telephony customers and more than five million broadband subscribers.

United States, Lumen Technologies (incl. CenturyLink), Qwest Communications International