Qwest’s profit drops, will cut 1,200 jobs Phone company says its third-quarter profit fell 93 percent
The Associated Press updated 6:11 a.m. CT, Wed., Oct. 29, 2008 NEW YORK - Qwest Communications International says its third-quarter profit fell 93 percent and it plans to cut 1,200 jobs, or slightly more than 3 percent of its work force. The Denver-based phone company said Wednesday it earned $151 million, or 9 cents per share, in the three months ended Sept. 30. That’s down from $2.06 billion, or $1.08 per share, a year ago. The 2007 results were boosted by a tax benefit. It says its revenue fell 2 percent to $3.38 billion. Analysts polled by Thomson Reuters had expected the company to earn 10 cents per share on $3.33 billion in revenue. Analyst estimates typically exclude one-time items. URL: http://www.msnbc.msn.com/id/27433105/ -- ================================ George Antunes, Political Science Dept University of Houston; Houston, TX 77204 Voice: 713-743-3923 Fax: 713-743-3927 Mail: antunes at uh dot edu *********************************** * POST TO [email protected] * *********************************** Medianews mailing list [email protected] http://lists.etskywarn.net/mailman/listinfo/medianews
