Windstream sees revenue slide 6% in Q2
In its second quarter, Windstream Corp. – which provides phone, high-speed Internet and digital TV services to customers in 16 states – reported revenues of $753 million in its second quarter, a 5.9 percent decrease from a year ago.
Net income in Q2 was $91 million, an 11 percent decrease from a year ago, or 21 cents of diluted earnings per share.
Windstream added approximately 15,000 new high-speed Internet customers during the second quarter, bringing its total broadband customer base to 1.1 million customers, an increase of 10 percent year-over-year.
And the company added more than 16,000 new digital TV customers in the quarter, bringing the total to approximately 312,000.
Total access lines declined by approximately 41,000. Total lines at the end of the quarter were 2.95 million, a decline of approximately 5.5 percent year-over-year.
Additionally, Windstream said the Federal Communications Commission has approved the company’s acquisition of D&E Communications, which was announced on May 11. Windstream hopes to close the transaction in the fourth quarter.
“Our team continues to do an outstanding job managing expenses, and I am pleased that we sustained cash flows in a challenging economic environment,” said Jeff Gardner, president and CEO. “We also are making progress on integration planning with D&E while the approval process for the transaction moves forward. D&E is a solid company and a good strategic and geographic fit with our Pennsylvania operations.”