UPDATE: Level 3 Communications, Inc. (LVLT) Tops Q2 EPS by 7c
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(Updated - July 29, 2014 7:35 AM EDT)
Level 3 Communications, Inc. (NYSE: LVLT) reported Q2 EPS of $0.37, ex-items, versus the analyst estimate of $0.30. Revenue for the quarter came in at $1.625 billion versus the consensus estimate of $1.6 billion.
GAAP EPS included a $0.14 loss for the devaluation of the Venezuelan Bolivar, and $0.02 of tw telecom transaction-related fees. Excluding these items, the company generated basic and diluted net income per share of $0.37.
Adjusted EBITDA was $463 million in the second quarter 2014, excluding $4 million of tw telecom transaction-related fees. For the second quarter 2013, Adjusted EBITDA on a pro forma basis was $385 million, which has been adjusted to include $15 million in bonus-related non-cash compensation expense and to exclude $13 million of severance charges, both of which were recognized in that quarter.
"Level 3 delivered another quarter of solid revenue and Adjusted EBITDA growth," said Jeff Storey, president and CEO of Level 3. "Our ability to help enterprise customers solve their evolving, global telecommunications needs is a key differentiator in the industry. During the second quarter, we also indicated our intent to acquire tw telecom and the integration planning process is well underway."
For earnings history and earnings-related data on Level 3 Communications, Inc. (LVLT) click here.
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