Earthlink (ELNK) shares are trading higher today after the company posted better-than-expected Q1 results.
For Q1, the Internet service provider reported revenue of $157.3 million, down 4% from Q4 and off 21% from a year ago, but above the Street at $155.9 million. Profits of 25 cents a share beat the Street by a nickel. Net subscriber losses in the quarter were 118,000, down from losses of 137,000 in Q4 and 208,000 a year ago.
For the full year, the company now expects adjusted EBITDA of $194 million to $202 million, up from a previous forecast of $180 million to $190 million.
The company also boosted its quarterly dividend rate to 16 cents, from 14 cents.
ELNK is up 51 cents, or 5.9%, to $9.22.
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