Global Crossing Earnings: Losses Shrunk

Global Crossing Ltd.’s (NASDAQ:GLBC) first quarter loss narrowed, beating estimates. Global Crossing, Ltd. and its subsidiaries is a global communications service provider, which offers a range of data, voice and collaboration services and delivers services to approximately 40 percent of the companies in the Fortune 500.

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Global Crossing Earnings Cheat Sheet for the First Quarter

Results: Loss narrowed to $33 million (loss of 56 cents/diluted share) from $119 million (loss of $1.99/share) in the same quarter a year earlier.

Revenue: Rose 2% to $661 million YoY.

Actual vs. Wall St. Expectations: GLBC beat the mean analyst estimate of a loss of 71 cents/share. Estimates ranged from a loss of 43 cents per share to a loss of 84 cents per share.

Competitors to Watch: Level three Communications, Inc. (NASDAQ:LVLT), Telefonica S.A. (NYSE:TEF), BT Group plc (NYSE:BT), CenturyLink, Inc. (NYSE:CTL), AT&T Inc. (NYSE:T), XO Holdings Inc. (XOHO), Verizon Communications Inc. (NYSE:VZ), France Telecom SA (NYSE:FTE), Fusion Telecommunications Int’l, Inc. (FSNN), and Deutsche Telekom AG (DTEGY)

Stock Performance: Shares of GLBC are unchanged from the previous close of $24.35.

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