For the third quarter of 2008, Qwest reported total revenue of $3.37 billion, a decline of 2% compared to $3.43 billion during the comparable period of 2007. Adjusted EBITDA for the third quarter of 2008 was $1.08 billion compared to $1.15 billion in the same period of 2007. The company added 61,000 new high-speed internet customers in the third quarter of 2008.
The company reported growth in data, internet and video services. Customer demand for data services across all business segments contributed to 10 percent year-over-year growth in total data, internet and video services revenue. Sequentially, data, internet and video revenue grew by 4 percent on the strength of business and wholesale results.
Through a series of actions, the company expects to reduce its workforce during the fourth quarter of 2008 by approximately 1,200, or a little more than 3% of the total workforce as of the end of the third quarter of 2008.
Edward Mueller, chairman and CEO of Qwest, said: We are pleased with the rebound in broadband sales in the quarter, and our business markets reported top-line. Our margins were impacted by fewer consumer access lines and a less profitable revenue mix. Reflecting our outlook on the near-term direction of the economy, we have taken a number of steps to keep our costs aligned with customer demand and maintain maximum financial strength and flexibility.
