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Technology Stocks : Qwest Communications (Q) (formerly QWST) -- Ignore unavailable to you. Want to Upgrade?

To: KAF who wrote (6432)	7/19/2000 8:11:30 AM
From: Neil H	Read Replies (2) \| Respond to of 6846

From thestreet.com Qwest Tops Estimates by 2 Cents By Tim Arango TheStreet.com/NYTimes.com Staff Reporter 7/19/00 7:17 AM ET Qwest Communications (Q:NYSE - news), the long-distance and Internet broadband company that recently acquired US West, reported earnings above Wall Street estimates amid strong growth in Internet and data services. At the same time, the company said it is on track to meet its own year-end projections of $7.4 billion in earnings on $18.5 million of revenue for the combined company. For the second quarter Qwest earned 5 cents a share, before costs related to the merger, up from 3 cents earned in the same period last year. The figure was up 2 cents from the 3 cents a share that Wall Street analysts expected from Denver-based Qwest, according to First Call/Thomson Financial. The company earned $1.28 billion in revenue, up 47% from last year's second-quarter figure of $873.7 million. Qwest, the country's fourth-largest long-distance carrier, earned $37.2 million in profits, up from last year's figure of $18.5 million. After accounting for costs related to the merger, a $36 billion deal completed June 30, Qwest's profits sank to $7.2 million, or a penny a share. Data revenue grew $158 million, or 38%, to a total of $568 million, the company said. Wireless generated $120 million in sales, up 118% from last year's second quarter.