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Shares in CenturyLink Inc. fell roughly 5% post market after the internet and phone-service provider slightly missed revenue forecasts for the third quarter, though its profit was in line with forecasts. Revenue for CenturyLink fell 4% to $5.82 billion, as the company reported declines across its business units. Profit rose 45% to $272 million, or 25 cents a share. Excluding items including costs tied to the integration of Level 3 Communications, the profit was 30 cents a share. Analysts polled by Refinitiv expected an adjusted profit of 30 cents a share on revenue of $5.88 billion. The company maintained its full-year outlook on adjusted Ebitda of between $9 billion and $9.15 billion. Lower spending on capital expenditures helped CenturyLink raise its annual free cash flow target range to $4 billion to $4.2 billion, up from $3.6 billion to $3.8 billion. (firstname.lastname@example.org; @BowKnowsBiz)
(END) Dow Jones Newswires
November 08, 2018 17:09 ET (22:09 GMT)
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