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.
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.