Banking & Finance  August 3, 2017

Level 3’s earnings down 2 cents per share year-over-year

BROOMFIELD — Level 3 Communications Inc. posted earnings per share of 42 cents for the second quarter of 2017, down slightly from 44 cents for the same period last year.

The Broomfield-based telecommunications company, which is in the middle of a merger with CenturyLink, has net income of $154 million, down slightly from $156 million for the second quarter of 2016.

“Level 3 continues to focus on delivering profitable growth and expanding margins,” said Jeff Storey, president and chief executive of Level 3, in a prepared statement. “With the CenturyLink team, we have gained good traction on integration planning. I am excited to become part of the combined company management team when the transaction closes, as I believe the combination with CenturyLink will enable us to deliver significant value to our stockholders, customers and employees.”

Revenue grew slightly from $2.056 billion in the second quarter of 2016 to $2.061 billion in the second quarter of 2017.

The company’s adjusted EBITDA — or earnings before interest, taxes, depreciation and amortization — was $744 million, but that figure includes the $22 million costs associated with merging.

Level 3’s stock price was $59.26 at end-of-day Wednesday, a climb of 31 cents throughout the day.

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