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CenturyLink Q2 revenue slides 7%

Due in a large part to one-time charges related to the May sale of its data centers and colocation business, CenturyLink Inc. on Aug. 2 reported a large year-over-year drop in second-quarter net income.

The company reported net income of $17.0 million, or 3 cents per share, down from net income of $196.0 million, or 36 cents per share, in the year-ago period. The second-quarter S&P Capital IQ consensus estimate for GAAP EPS was 25 cents.

Revenue for the quarter ended June 30 was $4.09 billion, down 7.0% year over year from $4.40 billion.