CTL - Why Shares of CenturyLink Slumped Today
Shares of CenturyLink (NYSE: CTL) declined on Thursday after the telecommunications company reported its fourth-quarter results. Revenue declined less than expected and earnings were in line with analyst expectations, but the stock was still down about 7.9% at 11:45 a.m. EST. Shares were down as much as 11.4% earlier in the day.
CenturyLink reported fourth-quarter revenue of $5.57 billion, down 3.6% year over year and $20 million higher than the average analyst estimate. International and global accounts revenue was down 2% to $904 million, enterprise revenue was flat at $1.56 billion, small and medium business revenue was down 3% to $731 million, wholesale revenue was down 7% to $994 million, and consumer revenue was down 6% to $1.39 billion.
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