Centurylink Inc (NYSE:CTL) posted results for fourth quarter closed December 31, 2017. The issued report on a consolidated basis comprise two months of Level 3’s fiscal performance, as company completed the Level 3 acquisition on November 1, 2017. Consolidated total revenue came at around $5 billion for Q4 2017 versus around $4 billion for Q4 2016.
Centurylink reported that Consolidated diluted earnings came at $1.26 per share for Q4 2017, versus diluted earnings of $0.08 per share for Q4 2016. Excluding special items in Q4 2017, the diluted earnings was $0.18 per share.
Jeff Storey, the Chief Operating Officer and President, expressed that 2017 was a year of notable transformation for company. Glen F. Post, III, the CEO, said that the sale of their colocation business and data centers followed by the deal of Level 3 Communications positions them as a major global networking firm. This strategic combination offers significant scale, enhances their services and products portfolio, and improves company’s long-term financial flexibility.
Post added that their focus remains on the successful integration of their businesses and improving their customer experience through automation and simplification while achieving their targeted annualized run rate cash savings of $975 million.
Storey added that with this combination, the company is now better positioned to fulfill the needs of their customers and enhance long-term shareholder return. They have integrated and organized their sales, service and operations teams to fulfill the specific needs of Centurylink customers, from small businesses to consumers to the largest international enterprises in the world. They are continuing to invest to fulfill the needs of their customers and to offer them with an enhanced digital experience.
In the last trading session, the stock price of Centurylink declined more than 2% to close the day at $18.47. The decline came at a share volume of 13.56 million compared to average share volume of 12.87 million.