Dallas, Texas 08/09/2013 (Financialstrend) – Communications and technology services provider Windstream Corporation (NASDAQ:WIN) reported a refuse in second quarter profits and revenues, early on Thursday. Both results missed Wall Street estimations.
The Little Rock, Arkansas-based company reported a second quarter net income of $39.7 million that is 6 cents per share, down from $51.0 million that is 9 cents per share, in the same period a year ago. Experts polled by Thomson Reuters were expecting the firm to earn 9 cents per share in the 2nd quarter.
Windstream’s total proceeds came in at $1.506 billion, which is down from $1.534 billion in the same fiscal year in 2012. Experts were expecting the firm to see profits of $1.51 billion in the quarter. Looking ahead, Windstream now anticipates total profits to turn down 1% to 3% in 2013 compared to 2012. This is generally due to softer business sales surroundings. Experts expect the firm to see $6.05 billion in revenues for financial 2013.
Stocks of Windstream Corp (NASDAQ:WIN) provide a dividend yield of 11.63% based on recent closing price of $8.60 and the firm’s annualized dividend payout of $1.00 per share. The company has named Bob Gunderman as the treasurer. Additionally to the treasurer role, he will keep on to serve as senior vice president of economical planning.
Windstream Corporation (NASDAQ:WIN) had presented loss of 4.19% with the trading on Thursday and had thereby closed at $8.24 per share. While the stock opened at $8.25 per share, there had been fluctuations in the intraday prices ranging between $8.15 and $11.04 per share during the day. The 52 week low price for the stock is presently at $7.50 and 52 week high price is at $11.04 per share. There are a total 592.76 million shares in the market valuing to a market cap of $4.88 billion. The stock has a volume around 13.64 million shares being swapped hands while the average level of trading is at 7.70 million shares a day on Thursday.