CenturyLink, Inc. (CTL) reported that its second-quarter GAAP net income was $74 million compared to $115 million for second quarter 2011, and earnings per share for second quarter 2012 was $0.12 compared to $0.19 for second quarter 2011.
Second quarter 2012 net income and earnings per share reflect net after-tax impacts of $123 million ($0.20 per share) related to losses on the early retirement of debt, $7 million ($0.01 per share) related to severance, integration and retention costs associated with the Qwest and Savvis acquisitions and $14 million ($0.02 per share) related to severance associated with recent expense reduction initiatives.
Excluding the items, CenturyLink's adjusted net income for second quarter 2012 was $403 million compared to pro forma adjusted net income of $428 million in second quarter 2011. Second quarter 2012 Adjusted earnings per share was $0.65 compared to pro forma adjusted earnings per share of $0.69 in the year-ago period. Analysts polled by Thomson Reuters expected the company to report earnings of $0.62 per share for the quarter. Analysts' estimates typically exclude special items.
Operating revenues for second quarter 2012 were $4.61 billion compared to $4.41 billion in second quarter 2011. This increase was primarily due to $278 million of revenue contributions from the Savvis acquisition completed July 15, 2011, increases in strategic revenues, primarily driven by business customer demand for high-bandwidth data services, growth in high-speed Internet and Prism TV subscribers and higher data integration revenues. Eighteen analysts had consensus revenue estimate of $4.57 billion for the quarter.
Second quarter 2012 operating revenues compared to pro forma second quarter 2011 operating revenues declined 1.2% from $4.67 billion a year ago to $4.61 billion the latest-quarter, due to the decline in legacy revenues more than offsetting the increase in strategic revenues and data integration revenues.
For the third-quarter, the company expects adjusted earnings to be in the range of $0.54 - $0.59 per share, and operating revenue of $4.54 billion to $4.59 billion. Analysts expect the company to report earnings of $0.60 per share on revenues of $4.56 billion for the third-quarter.
For fiscal 2012, the company now expects adjusted earnings to be in the range of $2.45 to $2.55 per share, compared to prior outlook of $2.35 to $2.55 per share.
The company anticipates operating revenue for fiscal 2012 to be in the range of $18.3 billion to $18.4 billion, compared to prior range of $18.2 billion to $18.4 billion.
Analysts expect the company to report earnings of $2.44 per share on revenues of $18.32 billion for fiscal 2012.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.