CenturyLink 3Q net income falls as expenses rise

(AP) -- Phone company CenturyLink Inc. says its third-quarter net income fell as rising operating expenses related to its April acquisition of larger phone company Qwest overshadowed increased revenue.

In the July-September quarter, CenturyLink earned $140 million, or 23 cents per share. This is 40 percent lower than the $232 million, or 76 cents per share, a year earlier.

Excluding one-time items, the company earned 34 cents per share, matching estimates of analysts polled by FactSet.

Revenue rose to $4.6 billion from $1.7 billion, also in line with what analysts expected. Of this, $2.7 billion came from Qwest.

CenturyLink expects fourth-quarter adjusted net income of 58 to 62 cents per share on revenue of $4.6 to $4.65 billion.

Analysts expect adjusted earnings of 34 cents per share on $4.6 billion in revenue.

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