Level 3 Communications (LVLT) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.53 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $0.45. The company posted revenue of $2056.00 million in the period, compared to analysts expectations of $2078.64 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.
Many Wall Street Analysts have commented on Level 3 Communications. Level 3 Communications was Initiated by Pacific Crest to “Sector Weight” on Jul 25, 2016. Level 3 Communications was Downgraded by BofA/Merrill to ” Neutral” on Apr 29, 2016.
Level 3 Communications closed down -1.76 points or -3.34% at $50.89 with 50,27,897 shares getting traded on Thursday. Post opening the session at $52.25, the shares hit an intraday low of $50.43 and an intraday high of $52.5 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jul 5, 2016, Jeffrey K Storey (President and CEO) sold 60,557 shares at $50.41 per share price. According to the SEC, on Jul 5, 2016, Andrew Crouch (Regional President, EMEA) sold 24,200 shares at $51.39 per share price. On Jul 5, 2016, Sunit S Patel (Executive VP and CFO) sold 31,135 shares at $50.83 per share price, according to the Form-4 filing with the securities and exchange commission.
Level 3 Communications Inc. is a provider of a range of integrated communications services. The Companys operating segments include North America includes operations in Georgia Colorado Florida Canada New York Arizona Pennsylvania Michigan and Oklahoma; Europe includes operations in England Ireland The Netherlands and France; The Latin America includes operations in Colombia Argentina Venezuela Peru Ecuador Chile and Brazil. The Asia or Pacific includes operations in China Singapore and Japan. The tw telecom inc. (tw telecom) is an indirect wholly owned subsidiary of the Company. The Company offers services which includes core network services and wholesale voice services. It offers products which include core network services including transport and fiber services colocation and data center services IP and data services managed services cloud and IT services voice services and wholesale voice services including voice termination and toll free.