Level 3 Q1 Profit Beats View; Lifts Full-year Outlook - Quick Facts

(RTTNews) - Level 3 Communications Inc. (LVLT) reported net income for the first quarter of $122 million or $0.35 per share, compared to $112 million or $0.47 per share in the year-ago period. On a pro forma basis, net income was $99 million or $0.29 per share in the year-ago period.

Consolidated total revenue for the quarter rose to $2.05 billion from $1.61 billion in the prior-year quarter. Revenues also rose from $2.00 billion on a pro forma basis in the year-ago period, assuming the tw telecom acquisition took place on January 1, 2014.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share for the quarter on revenues of $2.06 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2015, Level 3 now expects adjusted EBITDA growth of 14 to 17 percent, up from the prior outlook for growth of 12 to 16 percent.

Additionally, the company now expects to generate full-year free cash flow of $600 million to $650 million, up from the prior range of $550 million to $600 million.