DENVER—Telecommunications company Qwest Communications International Inc. said Tuesday its third-quarter profit jumped, aided mainly by a $2.15 billion tax benefit.
For the period that ended Sept. 30, Qwest earned $2.07 billion, or $1.08 per share, compared with $194 million, or 9 cents per share, in the year-ago period.
The company said its adjusted earnings before interest, taxes, depreciation and amortization—or EBITDA—totaled $1.15 billion, up from $1.13 billion a year earlier.
The company’s operating revenue declined slightly year over year to $3.43 billion from $3.49 billion.
Analysts polled by Thomson Financial expected earnings of 15 cents per share on $3.49 billion in revenue for the period.
The company’s tax benefit rose year over year to $2.15 billion from $43 million.
Qwest recorded $353 million in litigation charges during the period.
