Level 3 report shows stable Q2 revenue
The Broomfield-based telecommunications company (NYSE: LVLT) said its adjusted earnings before interest, taxes depreciation and amortization, or EBITDA, increased to $353 million, up 8 percent from the $327 million reported in the first quarter.
Level 3's growth was based on growth in its core network services unit, chief executive James Crowe said in the statement the accompanied the report.
"We continue to see steady market demand for our services," Crowe said. "We saw double digit sequential growth in Core Network Services sales orders in the second quarter, and as a result, we expect stronger sequential performance for the second half of the year. Additionally, we remain on track to realize projected synergies, and integration is proceeding as planned."
The integration to which Crowe referred is the result of Level 3's $3 billion acquisition of rival Global Crossing Ltd. last year.
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