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Embarq Beats Estimates with $370-Million in Fourth-Quarter Profits


09/02/2008

Regional telecom carrier, Embarq Corp., reported fourth-quarter operating income of $370 million, or $1.23/share on Thursday, beating analysts’ average estimates of $1.10/share.

Embarq’s overall revenue was $1.58 billion for the quarter, down 2.5% from $1.62 billion in the same period a year earlier, largely due to a ongoing decline in fixed-line telephone subscriptions. The carrier lost 91,000 landline telephone customers in the three-month period, but gained 61,000 high-speed internet subscribers.

The Overland Park, Kansas company expects revenues to decline a further 1.2% to 2.5% in 2008.



 

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