CenturyLink reported Q1 revenue of $4.40 billion compared to $4.45 billion in first quarter 2015. Declines in voice and long distance revenues, low-bandwidth data services revenues and data integration revenues were partially offset by the increases in business high-bandwidth data services revenues, consumer high-speed Internet and Prism TV revenues and other services.
Net income (GAAP) was $236 million compared to a net income of $192 million for first quarter 2015, and diluted earnings per share was $0.44 for first quarter 2016 compared to $0.34 for first quarter 2015.
“CenturyLink achieved another solid quarter, with core revenues, operating cash flow and adjusted diluted earnings per share in-line with our previous guidance,” said Glen F. Post III, chief executive officer and president. “Additionally, since the first of the year, we have completed two debt issuances totaling more than $1.2 billion, which strengthens our ability to invest in our business while returning cash to shareholders. We remain on track with our data centers and colocation business strategic alternatives process and are pleased with the level of interest and progress to date.”
Some highlights:
- CenturyLink now has over 1.5 million fiber-enabled homes and businesses with Internet speeds of up to 1 Gbps.
- Achieved core revenues of approximately $4.0 billion.
Grew revenue from high-bandwidth data services provided to Business customers, including MPLS and Ethernet, by more than 7% year-over-year and revenue from Consumer strategic services by approximately 5% year-over-year. - Generated free cash flow of $824 million, excluding special items.
Added more than 16,900 CenturyLink Prism TV customers during first quarter 2016, ending the period with approximately 302,000 customers. - Ended the quarter with approximately 6.1 million high-speed Internet customers, an increase of approximately 7,800 customers in first quarter 2016.
