BROOMFIELD - Level 3 Communications Inc. (NYSE: LVLT) reported revenue of $1.577 billion for the first quarter of its fiscal year that ended March 31, but the telecommunications company incurred a loss of $78 million, or 36 cents per share.

Broomfield-based Level 3's loss narrowed as compared with a loss of $138 million, or 66 cents per share, on revenue of $1.586 billion during the first quarter a year ago.

"I am excited to be leading Level 3 at a time when we have a great opportunity to expand our market position in the enterprise business," said Jeff Storey, president and chief executive, who replaced James Crowe earlier this month at the helm of Level 3.

"We intend to continue our focus on providing outstanding service to our customers, and believe that will help us deliver profitable revenue growth, margin expansion and free cash flow generation."