Level 3 Communications Falls 4.7% After Reporting Earnings (LVLT)

Broomfield, Colorado-based Level 3 Communications, Inc. LVLT released financial results on Wednesday morning that sent the company's stock price down. Level 3 Communications, Inc announced that its 4th quarter net loss narrowed to $52 million, or 3 cents per share, from a net loss of $182 million, or 11 cents per share, a year earlier. Excluding special items, the company reported a loss of 9 cents per share. Level 3 Communications, Inc reported revenue of $921 million, down from $924 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for a loss of 10 cents per share, on revenue of $920.07 million. Level 3 Communications, Inc. (LVLT) finished the previous trading day at $1.29 per share and was down 4.7% at $1.23 per share during Wednesday pre-market trading. The consensus price target of analysts covering the company's stock is $1.16 per share. Level 3 Communications, Inc is a leading international provider of fiber-based communications services. Read more from Benzinga's Company news.