KPNQwest beats the street, ups guidance
KPNQwest posted a solid third quarter, beating analyst expectations and upping revenue guidance for 2001. The company posted a net loss of $54.7 million--12 cents per share--which bettered the 17-cent loss predicted on First Call/Thomson Financial. KPNQwest’s communications services also performed better than anticipated, going EBITDA positive one quarter sooner than planned.
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Total EBITDA for the quarter was $2.4 million on revenues of $178.7 million, a 48.9% increase year-over-year that was driven by communications services revenues increasing 64.6%. Based on third-quarter performance, KPNQwest upped its revenue guidance for 2001 to about $723.4 million from $705.3 million.
--Toby Weber, staff writer
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© 2012 Penton Media Inc.
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