Level 3 revenues rise sequentially
Level 3 Communications posted Q1 revenues of $1.27 billion, up from $944 million in the previous quarter. That was not enough, however, to avoid a net loss of $168 million (20 cents per share), versus a net loss of $169 million (24 cents per share) in the previous period.
Level 3 attributed the stronger numbers to "positive trends" in its Core Communications Services division, which saw revenues jump more than 100 percent to $804 million quarter-to-quarter. Q1 figures were also better due to revenues coming in from Level 3's recent acquisition of WilTel.
Level 3 noted that it successfully interconnected its IP backbones with those of WilTel during the quarter.