Skip to main content

Updated from 7:17 a.m. EDT

Qwest Communications


, 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 cash flow on $18.5 billion 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.

Scroll to Continue

TheStreet Recommends

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 brought in $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.

Qwest Communications finished Wednesday regular trading up 11/16, or 1.3%, at 54 15/16.

As originally published, this story contained an error. Please see

Corrections and Clarifications.