Qwest Posts 10th Straight Loss
Qwest Communications International Inc., a local-telephone company that has disclosed more than $1.5 billion in accounting errors, posted its 10th straight quarterly loss as customers canceled phone lines.
The third-quarter net loss widened to $214 million, or 13 cents a share, from $142 million, or 9 cents, a year ago. Sales fell 13% to $3.8 billion, the company said. Year-ago figures may change because Qwest is restating results.
Shares of Denver-based Qwest rose 21 cents, or 6.6%, to $3.39 on the New York Stock Exchange.