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CenturyLink reported Q2 2020 revenue of $5.192 billion, down 3% from Q2 2019. Key segments included Enterprise at $1.433 billion and Consumer at $1.316 billion. Adjusted EBITDA was $2.085 billion, with a margin of 40.2%. Free cash flow decreased to $740 million compared to $901 million previous year. Interest expense outlook for 2020 is lowered to $1.7 billion. Despite revenue declines, net income rose to $377 million, reflecting strong operational resilience amid challenges.
CenturyLink has secured a contract with the State of Arizona to enhance network connectivity and IT services for governmental agencies. This expanded AZNet contract allows CenturyLink to offer local and wide area network management, WiFi, security, unified voice communications, and cloud-based services over a five-year term with two optional extensions. The existing infrastructure includes over 27,000 fiber route miles and nearly 13,000 on-net buildings in Arizona, enabling cutting-edge technology implementation.
CenturyLink (NYSE: CTL) announced its second quarter 2020 earnings call is scheduled for August 5, 2020, at 5 p.m. ET. Investors can join via the Investor Relations website or by phone. The earnings report and related materials will also be accessible online. The archived audio replay will be available starting at 7 p.m. ET on the same day, lasting until November 3, 2020. CenturyLink continues to focus on delivering hybrid networking and cloud solutions through its global fiber network.
On July 1, 2020, CenturyLink's Black Lotus Labs reported that the Alina POS malware is still active, using DNS to steal credit and debit card data. This malware, which has persisted for years, was flagged by machine-learning models after unusual queries were detected in April 2020. The findings emphasize the need for continuous monitoring of DNS traffic to protect against such threats. CenturyLink promotes vigilance to prevent data exfiltration and emphasizes that malware authors adapt their techniques to evade detection.
CenturyLink announced that its subsidiary, Qwest Corporation, will redeem the remaining $300 million of its 6.875% Notes due 2054. The redemption, set for August 7, 2020, will occur at par plus accrued interest. This strategic financial move aims to optimize Qwest's debt management. Further details can be obtained from the Bank of New York Mellon. CenturyLink focuses on technology solutions including hybrid networking and cloud services, leveraging its global fiber network to enhance customer experiences.
On June 30, 2020, CenturyLink (NYSE: CTL) secured a second task order from NASA to manage its voice traffic and ensure fast, secure connectivity across over 15 facilities. This follows a prior task order for core network services with speeds up to 100 Gbps awarded in 2019. Both contracts, part of the General Services Administration's $50 billion Enterprise Infrastructure Solutions program, have a performance period of 9.5 years. The contracts underscore CenturyLink's commitment to supporting NASA’s exploration programs with reliable network services.
On June 29, 2020, CenturyLink (NYSE: CTL) announced that its subsidiary, Qwest Corporation, has successfully completed a partial redemption of $200 million of its 6.875% Notes due 2054. This redemption follows a notice issued on June 10, 2020. The transaction signals CenturyLink's effort to manage its debt effectively. Additional details can be obtained from the Bank of New York Mellon. CenturyLink is recognized for its technology solutions in hybrid networking, cloud connectivity, and security, leveraging its extensive fiber network to meet digital demands.
On June 25, 2020, CenturyLink released a study by Forrester Consulting detailing the financial benefits of its network-based DDoS mitigation service. The study highlights an impressive ROI of 222% over three years, with a total present-value benefit of $1.6 million. Key findings include a 75% reduction in mean time to detect and resolve issues, a 20% decrease in suspicious activity, and a nearly complete elimination of DDoS attack outages. Customers also save up to $1.2 million by optimizing security teams, thus alleviating the burden of threat detection and resolution.
CenturyLink (NYSE: CTL) announced that its subsidiary, Level 3 Financing, has successfully completed a private offering of $1.2 billion in unsecured 4.250% Senior Notes due 2028. The net proceeds from this offering will be utilized for general corporate purposes, mainly to redeem $840 million of 5.375% Senior Notes due 2022 and $360 million of 5.625% Senior Notes due 2023. The 2028 Notes will be redeemed at par, plus accrued interest, on July 15, 2020. These notes were privately placed without SEC registration.
On June 15, 2020, CenturyLink (NYSE: CTL) announced its strategic establishment at NJFX, the premier Cable Landing Station (CLS) colocation campus in the U.S. This expansion integrates CenturyLink’s extensive fiber network with NJFX’s ecosystem, enhancing connectivity across North America. The partnership aims to improve network resilience and reduce latency for customers by providing diverse interconnection options. NJFX facilitates access to four subsea cable systems, offering vital data infrastructure for businesses and service providers.
