Tuesday, August 1, 2006

Qwest Reports Improving Revenue and Earnings

Qwest Communications reported revenue of $3.5 billion for the second quarter, benefiting from improving sales for high-speed Internet, advanced data products, long distance and wireless. For the quarter, Qwest reported net income of $117 million, or $0.06 per fully diluted share, compared with a loss of $164 million, or ($0.09) per share in the second quarter 2005.

"We are very pleased that we've entered the second half of the year with the momentum of two profitable quarters," said Richard C. Notebaert, Qwest chairman and CEO. "Our cost structure and investments remain focused and rational while customers are embracing our higher-value, higher ARPU products that contribute to our revenue."

During Q2, Qwest added 120,000 DSL lines, bringing total subscribers to 1.8 million -- a 7 percent increase sequentially and a 51 percent increase year-over-year.

Currently, 80 percent of Qwest's households are eligible for broadband services, up from approximately 67 percent at the end of 2004.

About 98 percent of qualified households are able to purchase broadband speeds of 1.5 Mbps or greater, more than 50 percent are able to purchase service at speeds in excess of 3.0 Mbps, and more than 25 percent are able to purchase service at speeds in excess of 7.0 Mbps.


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