Cincinnati Bell (CBB) announced third quarter results with adjusted earnings per share of 11 cents, falling short of the Zacks Consensus Estimate by a penny. However, this was above the year-ago EPS of 10 cents.   Adjusted EPS excludes special items such as restructuring charges, loss on disposal of assets and gain on extinguishment of debt. Net income increased 4% year over year to $28 million while revenue fell 3% from the prior-year quarter to $338 million as a result of the declines across wireline and wireless segments.   Wireline Segment   The company reported wireline revenues of $191 million down 5% from the year-ago quarter. Lower voice revenues (down 14% year over year to $83 million) and long-distance revenues (down 3% to $24 million) were partially offset by an increase in revenues from data services (up 2% to $70 million).   At the end of the quarter, ...

Qwest Communications (Q) has announced third-quarter 2009 earnings with reported earnings per share (EPS) of 8 cents matching both the Zacks Consensus Estimate and the year-ago quarter EPS. Net income declined 6.2% year over year to $136 million on lower revenues as erosion in legacy landline business continues. Operating revenue declined 9.6% from the prior-year quarter to $3.05 billion, primarily due to lower voice service revenue as consumers continue to disconnect their landline services. Qwest reported healthy growth in Internet revenue in the quarter, driven by respectable broadband customer growth. However, voice service revenue declined due to access line erosion. Results by Segment Business Markets Revenue from the business market segment declined 1% year over year to $1 billion due to declines across legacy voice and data businesses. The segment contributed 33.8% of the group revenue for the quarter. Driven by growth in ...

Sprint Nextel (S) reported its second quarter earnings today, with a net loss exceeding consensus and our forecasts while reported revenue came in line with the average estimate. The company posted a second quarter net loss of $384 million or $0.13 per share, which is 12% higher than the net loss of $344 million or $0.12 per share reported a year ago. Operating revenue fell 10% year over year and 1% sequentially to $8.1 billion due to lower contribution from its wireless business. The total reported revenue from the wireless segment was approximately $7 billion, reflecting a year-over-year decline of 9%. Wireless service revenue registered $6.4 billion, down 9% year over year while flat sequentially, as revenue growth from Boost Monthly prepaid subscribers was offset by declines in the post-paid segment. Sprint lost a net of 257,000 subscribers in the second quarter compared to 182,000 ...