Qwest Profit Rises, but Revenue Falls

Qwest Communications International Inc. said one-time gains helped it to post a $2.7-billion profit in the fourth quarter, though revenue plunged 11% as the regional phone company’s core business remained sluggish.

Fourth-quarter income amounted to $1.61 a share, contrasted with a net loss of $645 million, or 39 cents, in the same period a year earlier.

Revenue dropped to $3.7 billion.

Qwest said that without one-time events it would have lost 2 cents a share.

Shares of Denver-based Qwest fell 32 cents to $4.05 on the New York Stock Exchange.