CenturyLink, Inc. (NYSE: CTL) reported first-quarter 2020 financial results after the regular trading hours on Wednesday.
CTL shares fell close to 4% immediately following the announcement after revenues missed the Wall Street estimate. Meanwhile, the bottom-line was 3 cents higher than expected.
CEO Jeff Storey said, “The COVID-19 pandemic has highlighted both the importance of connectivity to how we live and work in today’s economy, and how capable CenturyLink’s fiber and IP-based network is in delivering those needs quickly, reliably, and at scale. The relevance and capability of our network, together with our financial strength, positions us well to support our customers and deliver long-term shareholder value.”
The stock has declined 13% in the trailing 12 months.
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