Level 3 Communications Profit Strong After Amending Accounting Mistakes

Multinational telecommunication and internet service provider, Level 3 Communications, reported third-quarter net income of $85 million on Wednesday.
Author:
Publish date:

Multinational telecommunication and internet service provider, Level 3 Communications, reported third-quarter net income of $85 million on Wednesday. The Colorado-based company said it had profit of 37 cents per share, which exceeded expectations. The company also posted revenue of $1.63 billion in the period, meeting forecasts. Its shares have increased more than 40% since the beginning of the year. Level 3 has finished its internal accounting review of the Aerospace Systems segment. It says that previous accounting mistakes were disappointing, but they shouldn't happen again.