Tuesday, May 6, 2008

Global Crossing Posts Q1 Revenue of $630 Million, up 25% YoY

Global Crossing's consolidated revenue grew 25 percent year over year to $630 million for the first quarter of 2008, and adjusted gross margin was $331 million or 53 percent of revenue. "Invest and grow" revenue increased 36 percent year over year to $517 million. Adjusted cash EBITDA was $67 million, and the company generated $25 million in cash from operating activities.

Global Crossing's wholesale voice business was stable and generated $112 million of revenue in the quarter, which was an increase of $1 million compared to the fourth quarter of 2007 and a decrease of $10 million year over year.http://www.globalcrossing.com