Windstream, Cincinnati Bell, CenturyLink Shares Get Bump from Q2 Results
Embattled wireline telco stocks jumped as several companies reported Q2 earnings late Wednesday and Thursday. In Thursday trading Windstream's stock closed up 25.5 percent at $4.88 per share after it reported "strong second-quarter results, including net growth in broadband subscribers…
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for the first time in three years." The results were "solid" as "revenue beat our estimates," said Wells Fargo analysts. Cincinnati Bell's share price jumped over 21 percent to $12.10 after reporting Q2 revenue increased $37 million year over year, "driven by strong demand for fiber-based products and the contribution from the OnX Enterprise Solutions acquisition." It said, "Fioptics internet subscribers totaled 235,300 at the end of the second quarter, up 21,200 compared to a year ago." CenturyLink's stock price finished up 13 percent at $20.97 after reporting results and raising its "full year 2018 outlook for Adjusted EBITDA to $9.00 to $9.15 billion from $8.75 to $8.95 billion, and Free Cash Flow to $3.60 to $3.80 [billion] from $3.15 to $3.35 billion."