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Level 3 revenues rise sequentially

Tue, 04/25/2006 - 7:59am
Jeff Baumgartner, CED

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.

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