Qwest Profit Down 49%

Qwest Communications International Inc. (Q) announced fourth-quarter earnings fell 49%. The company earned $185 million, or 11 cents per share, in the October-December period, down from $366 million, or 20 cents per share, a year ago. The latest results included a charge of a penny per share for severance payments. The company cut 1,700 jobs in the quarter, more than the 1,200 layoffs it had announced. Analysts expected lower earnings, at 10 cents per share.

by Mark Anderson | 02/10/09 | Stocks: Q,

Post a Comment

blog comments powered by Disqus


	Can Citigroup Be Saved? Citigroup Inc. (C) announced that it is making plans to planning to increase the number of its common shares outstanding and execute a reverse stock split as part of its effort to convert preferred shares to common shares. Citi is seeking to exchange about $27.5 billion in public and private preferred securities as part of its agreement with the Treasury Department, which has pledged to match up to $25 billion of the conversions. This deal represents the government's third attempt... continue

Get Our RSS Feeds

Subscribe to our RSS feed and you will receive all the articles by InvestorPlace Blogs contributors. Each contributor has their own RSS feed on their blog if you want to just follow specific people.

Qwest Profit Down 49%

Post a Comment

Can Citigroup Be Saved?

Get Our RSS Feeds