Qwest Reports Loss on Decline in Sales
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From Bloomberg News
Qwest Communications International Inc., the fourth-biggest U.S. local-telephone company, had a first-quarter net loss of $310 million as sales fell amid the defection of customers to rivals that have wireless units.
The net loss was 17 cents a share, compared with net income of $152 million, or 9 cents, a year earlier, Denver-based Qwest said. Sales declined 3.9% to $3.48 billion.
Shares of Qwest fell 1 cent to $4.01 on the NYSE.
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