Qwest suitor CenturyTel’s net income triples on Embarq deal, beats Wall Street estimate

CenturyTel 1Q net income triples on Embarq deal

MONROE, La. — CenturyTel, the phone company that is buying Qwest, says its earnings more than tripled in the first quarter due to its acquisition of Embarq last year.

The adjusted results beat Wall Street estimates and CenturyTel shares rose 1.3 percent in morning trading.

CenturyTel Inc., which brands itself as CenturyLink, said Wednesday its net income was $253 million, or 84 cents per share, in the first three months of the year, compared to $67 million, or 67 cents per share, a year ago.

Excluding items, adjusted earnings were 93 cents per share. Analysts expected 86 cents per share and typically exclude one-time items.

Revenue rose to $1.8 billion from $635 million a year ago.

CenturyTel recently agreed to buy Qwest Communications International Inc. for about $10 billion in stock.