Wireline provider Qwest saw its profits drop 39 percent from the same quarter a year ago in its latest earnings report, but there are a few bright spots in the report. Their Business Markets segment and IP services had a few good points even while their traditional legacy services continued to decline.
Legacy services at Qwest declined 13 percent to $1.7 billion in revenue annually. Qwest attributed the decline to lower demand for voice services and customers transitioning to newer generation data services. On the up side, fourth quarter strategic revenue grew 4 percent due to the demand for enterprise IP and mass market broadband services. According to the release, Qwest sees its success in the enterprise space "driven by a strong mix of data and IP services."
For more:
- read this release
- read this article
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