Level 3 Communications Inc. reported net income of $85 million, or 35 cents per share, in the third quarter, more than the 31 cents per share analysts expected.
The profit compares to a $21 million loss a year ago and was fueled by growth among enterprise customers, many of which are brought in by channel partners. Revenue totaled $1.63 billion, up from $1.66 billion in the same period in 2013.
But it wasn’t just enterprise growth that contributed to the better numbers. In the third quarter, Level 3 spent less money on items including network access costs, network-related expenses, and selling, general and administrative outlays, in spite of the tw telecom acquisition.
From here, Level 3 says it’s looking forward to even more traction among enterprises, thanks to the $7.3 billion purchase tw telecom that closed on Oct. 31.
“Given the combined company’s broad product portfolio, extensive network reach and customer-first mindset, we believe we are well-positioned to continue to capture enterprise market share,” said Jeff Storey, president and CEO of Level 3, in a prepared statement.
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August 22 2019 @ 21:32:04 UTC