CenturyLink Saw Weak Top Line and Profitability, Level 3 Posted Solid Results; Lowering FVE to $19
Following its merger with Level 3 on Nov. 1, CenturyLink posted weak results for the September quarter that primarily disappointed on profitability. This miss was primarily driven by revenue declines and margin contractions at both the enterprise and consumer segments. Management also expects the full-year EBITDA to fall short of the guidance issued in February, but we are not too surprised. Conversely, Level 3 reported solid top-line growth and stable profitability in its third quarter. Althoug...CenturyLink, via its subsidiaries, is a communications company engaged in providing an array of integrated services to its business and residential customers. The company's segments include: International and Global Accounts Management, which provides products and services to global enterprise customers; Enterprise, which provides products and services to regional domestic and global enterprises; Small and Medium Business, which provides products and services to small and medium businesses directly and through its indirect channel partners; and Wholesale, which provides products and services to other communication providers across the wireline, wireless, cable, voice and data center sectors.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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