EarthLink Q2 earnings beat Street view
Internet service provider EarthLink Inc. (Nasdaq:ELNK) reported ahead of today’s opening that its second-quarter earnings had beat Wall Street’s estimates. Net income for the quarter ended June 30 was $53.3 million, or $0.48 per share, compared with a net loss of $16.3 million, or $0.13 per share, for the year-ago quarter. Revenues were $245.6 million, down 21.2% from a year ago. Wall Street had been expecting $0.36 per share on revenues of $245.5 million.
“We are seeing favorable trends in many areas of the business including better than expected passive subscriber additions, lower customer churn from a more tenured customer base and significantly reduced operational costs. As a result, we are once again raising guidance for the full year,” said Rolla Huff, chairman and CEO, in a statement.
In today’s pre-market trading, shares are at $9.23, up $0.53 from Monday’s close. Shares have ranged from $5.90 to $10.16 during the past year.
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