Windstream Corp. on Thursday announced more than doubling its first-quarter profit during a period of strong business services and consumer broadband sales.
Net income at the Arkansas-based telecommunications company rose from $29 million, or 6 cents per share, in the year-ago quarter to $65 million, or 11 cents per share.
Analysts polled by Thomson Reuters, though, had projected EPS of 14 cents, Dow Jones Newswires reported.
Windstream reported revenues of $1.55 billion in what reflected a significant surge over roughly $1 billion in the same period a year ago. Of course, Windstream received a tremendous boost through its December 2011 acquisition of PAETEC Holding Corp. On a pro forma basis, revenues slightly declined 0.5 percent.
On a pro forma basis, business service revenues rose 3.2 percent to $897 million while consumer broadband revenues climbed 5.9 percent to $113 million. Wholesale revenues, though, fell 6.3 percent to $225 million because Windstream suspended and modified certain PAETEC products.