Qwest reported revenue of $3.5 billion for the fourth quarter and $13.9 billion for the year. Reported earnings were $593 million, or $0.30 per diluted share compared with a loss of $779 million, or ($0.42) per share in 2005. Some highlights of the quarterly report:
- High-speed Internet, data, wireless and long distance services contributed more than 55 percent of revenue in the fourth quarter of 2006 and revenue increased 8 percent over the prior year quarter.
- Mass market revenues in the quarter grew 1.5 percent compared to the year ago quarter, even with $8 million in nonrecurring revenue reduction associated with settlement-related customer credits in New Mexico and Oregon, as well as the impact of further reductions in universal service rates.
- Wholesale revenues held flat as growth in data revenue essentially offset continued and anticipated pressures in long distance and the local market.
- CAPEX in Q4 totaled $406 million, compared to $503 million in the year-ago quarter.
- Qwest added 259,000 high-speed Internet, video and wireless subscribers in the quarter, driving an increase in net connections of 116,000, with over 300,000 additions to net connections for the year.
- At the end of 2006, Qwest had a total of 13.8 million domestic access lines, down 6.4 percent from the end of 2005.
- Qwest increased high-speed Internet subscribers by 165,000 in the fourth quarter compared to an increase of 140,000 in the fourth quarter 2005. For the full year 2006, Qwest added 658,000 subscribers — a 44 percent increase over 2005 and its best ever annual gain — for a total of 2.14 million subscribers.
- Qwest added 78,000 net DIRECTV subscribers in the quarter for a total of 366,000 subscribers.
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