tw telecom inc. reported a second quarter profit thanks to a $227.3 million tax benefit, and sales beat Wall Streets predictions amid enterprise-customer demand.
tw telecom posted net income of $242.3 million, or $1.43 per share, up from $5.9 million, or 4 cents per share, in the year-ago period. Revenue, meanwhile, rose 5.2 percent to $316.8 million. Enterprise users contributed $14 million of that, according to tw telecom.
Another 16 percent in revenue came from data and Internet services as tw telecom made headway with its Ethernet and IP products. However, customer churn increased from the first quarter of 2010 as well as from the same three months in 2009.
tw telecom reported 27,460 customers as of June 30, with 1 percent churn, up from 0.9 percent in the first quarter.
Shares of tw telecom closed at $18.71, down 4.05 percent.
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June 19 2019 @ 15:37:42 UTC