Updated from 7:17 a.m. EDT
, the long-distance and Internet broadband company that recently acquired
, 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.
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.
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