Despite a variety of one-time costs totaling $49 million, Embarq Holdings Co. L.L.C. generated $1.59 billion in revenue and $371 million in income, it announced in results for the first quarter of 2007. Among the costs that negatively affected income for the quarter was $17 million of early stage dilution associated with the company’s wireless business.
The quadruple-play telecommunications provider, which was spun-off from Sprint Nextel Corp. last year, but continues to offer wireless services through a mobile virtual network operator agreement with its former parent company, experienced a decline in land-line voice revenue, but was buoyed by strong growth in data, high-speed Internet and wireless revenues.
“With an improving access line trend and strong growth in data, high-speed Internet and wireless revenues, we’re off to a great start in 2007,” Embarq CEO and Chairman Dan Hesse said.
The company said it added 23,000 new wireless subscribers in the quarter bringing its total subscriber base to 71,000 customers.
The company’s stock was up $2.68, or 4.7 percent, per share on the news.
Embarq’s strong wireless, data growth offsets landline loss
ABOUT AUTHOR
