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Level 3 Slashes Q4 Loss

2 Feb, 2011 By: Erik Gruenwedel

Level 3 Communications Feb. 2 reported a fourth-quarter (ended Dec. 31) loss of $52 million, which represents a 72% improvement over a loss of $182 million during the previous-year period.

Level 3, which is a backend technology provider for Netflix’s streaming service, was recently subjected to recurring fees imposed by Comcast Corp. — a move some observers suggested was aimed at thwarting Netflix’s rising streaming profile.

Broomfield, Colo.-based Level 3 said revenue dipped $3 million to $921 million from $924 million due in part to an expectant end of a contract related to the U.S. Census.

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