Blaming a fall in voice revenues, tighter cost controls and a change in its wireless business model, Qwest Communications said its revenue in the first quarter fell 7% year-on-year to 3.17 billion US dollars. Capital spending in the quarter was 334 million US dollars, a year-on-year decrease of 20%.
Qwest reconfirmed that it expects full year 2009 adjusted free cash flow will be between 1.4 billion and 1.5 billion US dollars, while capital expenditure will be a maximum of 1.8 billion US dollars - about the same capex as 2008. source: Qwest statement
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