CenturyLink Issues 2016 Guidance

(RTTNews) - CenturyLink, Inc. (CTL) announced the company anticipates slightly lower operating revenues and core revenues in full-year 2016 compared to full-year 2015 due to expected legacy revenue declines more than offsetting anticipated increases in strategic revenue growth. Excluding special items, the company expects operating revenues in a range of $17.55 to $17.8 billion, core revenues in a range of $15.75 to $16.0 billion, and adjusted EPS in a range of $2.50 to $2.70.

"As we look to 2016, we are seeing strong demand for high-bandwidth data and managed services from businesses, which we expect to help mitigate the anticipated further declines in our legacy revenues. Our IT services business, while relatively small today, continued to grow and gain traction during 2015, generating revenues that more than doubled compared to the prior year. We also have a solid funnel of business services opportunities going into 2016, which we expect to help drive network and managed services revenue," said Glen Post III, CEO.