CenturyLink announced its results for Q3 in 2015 this afternoon, and things looked good for the Louisiana-based provider.
Profits for the quarter clocked in at $390 million, or $.70 a share. In Q3 of 2014, the company had $359 million in profits at $.63 a share, so profits were up 9 percent year-over-year.
Total revenue went up at a smaller rate to $4.55 billion, up from $4.51 billion last year.
“CenturyLink achieved solid third quarter revenues from its Consumer and Business retail network customers, while Business wholesale and hosting revenues declined,” said Glen F. Post III, chief executive officer and President in a statement. “Demand for high-bandwidth data services remained strong as our business network sales increased sequentially and year-over-year, primarily driven by enterprise and global customers. We are also on track to achieve our targeted reduction of approximately $125 million in planned second half 2015 operating expenses, with the majority of the reduction expected to occur in the fourth quarter.”
The company also posted net subscriber gains for its TV Prism cable subscription service. It added 11,000 new cable customers during quarter three. The company added 360,000 addressable homes to its service area, bringing its total service area to more than 3 million homes.
The company is predicting guidance in Q4 of revenues of between $3.97 billion and $4.02 billion, or $.62-$.67 a share.
