NEW YORK (TheStreet) -- Windstream Holdings(WIN) - Get Report share are up by 5.31% to $5.45 in mid-afternoon trading on Thursday, after the broadcast and communications company reported its second quarter financial results.
The Little Rock, AR-based company reported a net loss of $111.2 million, or a loss of 48 cents per share on an adjusted basis, on revenue of $1.4 billion for the most recent quarter.
The company's net loss was significantly narrower than analysts' 61 cent loss per share expectations. Revenue was in line with expectations.
Despite the strong showing the company lost 2.9% of its high-speed Internet customers and 5.5% of its digital television subscribers for the quarter.
"We are on the right track strategically and financially. The new business unit structure has sharpened our focus and is driving operational excellence. The board and management team are confident in the future and remain focused on enhancing profitability and creating value for our shareholders," CEO Tony Thomas said in a statement.
Separately, the company announced that it authorized a $75 million share buyback program.