Edward Mueller

Fiber-optic network provider Qwest Communications International Inc. said Monday it will save about $100 million by stopping contributions to the pension plans of active managers and freezing their pay. The move to stop adding to pension benefits on Jan. 1 will save $60 million in 2010, while declining merit pay increases will save $35 million next year, it said. Combined with changes to benefits of employee health plans and life insurance, total savings will amount to about $100 million in 2010, the company said. The moves impact active management employees, and not retirees, former employees or employees covered by contracts negotiated by the Communications ... Read Full Story

Qwest Communications International Inc. reported a 6 percent drop in third-quarter profit Wednesday as customers continue to give up traditional landline telephones. Qwest has been struggling to find ways to grow sales as its industry shrinks. It offers local phone service in 14 Western states and customers have been siphoned off by competition from cable and cell phone providers. This summer it fell behind CenturyLink into fourth place among U.S. phone companies by number of lines in service. AT&T Inc. and Verizon Communications Inc. are the two largest. Qwest ended the third quarter with roughly 7 million lines, down 12 percent from a year ... Read Full Story

NEW YORK (Reuters) - Qwest Communications International Inc <Q.N> posted quarterly revenue that was slightly below Wall Street expectations but its shares rose almost 4 percent as it increased its profit outlook for the year. While Qwest's revenue has been falling as consumers disconnect their home phones it has been cutting costs to help improve its profit outlook. The telephone operator reported a third-quarter net profit of $136 million, or 8 cents per share, compared with $145 million, or 8 cents per share, a year earlier. Revenue fell nearly 10 percent to $3.05 billion, missing the analysts' average estimate of $3.067 billion, according to ... Read Full Story

Qwest Communications International is reporting a drop in third-quarter profit as customers continue to give up traditional landline telephones. The telecommunications company based in Denver also said it expects full-year earnings before interest, taxes, depreciation and amortization to hit the top end of its previous forecast. Qwest said Wednesday it earned $136 million, or 8 cents per share, in the three months ended Sept. 30. That's down from $145 million, or 8 cents per share, a year ago. It says revenue fell 10 percent to $3.05 billion. Analysts polled by Thomson Reuters had expected earnings of 7 cents per share on $3.07 billion in ... Read Full Story

Qwest Communications International Inc. said Thursday it will be ending its cell phone service on Oct. 31. The phone company said customers who switch to another carrier before the end of the month will be able to transfer their current phone numbers. But those who don't switch by the deadline will forfeit their mobile phone numbers. Customers won't be charged an early termination fee. Qwest said it's an authorized agent of Verizon Wireless. Customers who switch to Verizon Wireless will be eligible for exclusive cell phone deals. However, online and phone orders for Verizon phones can take up to two business days to ship. ... Read Full Story