Level 3 Communications Inc. (LVLT) Posts Wider than Expected Loss
Internet network operator Level 3 Communications Inc. said Tuesday its third-quarter loss widened as the company struggled to integrate six businesses it acquired in recent periods.
The Broomfield, Colo., company, which sells wholesale broadband and dial-up Internet services, also lowered its full-year adjusted earnings targets.
In the third quarter, Level 3 reported a loss of $174 million versus a loss of $138 million in the year-ago period. The per-share loss of 11 cents was narrower than the 12 cents reported last year because Level 3's share count used in calculating the result rose sharply.
Analysts polled by Thomson Financial expected a loss of 12 cents per share.
The Broomfield, Colo., company, which sells wholesale broadband and dial-up Internet services, also lowered its full-year adjusted earnings targets.
In the third quarter, Level 3 reported a loss of $174 million versus a loss of $138 million in the year-ago period. The per-share loss of 11 cents was narrower than the 12 cents reported last year because Level 3's share count used in calculating the result rose sharply.
Analysts polled by Thomson Financial expected a loss of 12 cents per share.
Labels: Level 3 Communications Inc., LVLT
posted by Stock Administrator @ 10:08 AM
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