TheStreet's Anchor Rhonda Schaffler discusses CenturyLink's results for the 2016 first quarter.
Updated from 1:38 PM EDT.
NEW YORK (TheStreet) -- Shares of CenturyLink (CTL) are falling 8.85% to $28.23 on heavy trading volume late Thursday afternoon after the Monroe, LA-based company posted disappointing revenue for the 2016 first quarter and provided a downbeat earnings forecast.
After yesterday's market close, the communications company reported operating revenue of $4.4 billion, below analysts' projections of $4.43 billion.
Adjusted earnings of 71 cents per diluted share beat analysts' estimates of 68 cents per share.
For the second quarter, CenturyLink sees adjusted earnings per diluted share between 57 cents and 62 cents, missing expectations.
Analysts are looking for earnings of 63 cents per share.
CenturyLink forecasts revenue for the current quarter in the range of $4.38 billion to $4.43 billion, while analysts are expecting $4.41 billion.
So far today, about 16.12 million of the company's shares were traded vs. its average volume of 4.49 million shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, increase in net income, revenue growth, expanding profit margins and notable return on equity.
The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.