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Telecom services provider CenturyLink, Inc. ( CTL ) late Wednesday posted better-than-expected third quarter earnings results, provided an upbeat fourth quarter outlook, and raised its full-year forecast.

The Monroe, LA-based company reported third quarter net income of $270 million, or 43 cents per share, compared with $138 million, or 22 cents per share, in the year-ago period. Excluding special items, adjusted profit was 66 cents per share.

Revenue edged slightly lower from last year, however, to $4.57 billion.

On average, Wall Street analysts expected a smaller profit of 58 cents per share, on matching revenue of $4.57 billion.

Looking ahead, CenturyLink forecast fourth quarter earnings of 64 to 69 cents per share on $4.56 billion to $4.61 billion in revenue. Analysts are currently looking for 62 cents on revenue of $4.58 billion.

For the full year 2012, CTL now expects profits of $2.64 to $2.69 per share, up from a prior outlook of $2.45 to $2.55. Analysts are looking for $2.53 per share for the year.

CenturyLink shares rose 64 cents, or +1.7%, in premarket trading Thursday.

The Bottom Line
Shares of CenturyLink ( CTL ) have a 7.66% dividend yield, based on last night's closing stock price of $37.88. The stock has technical support in the $35 price area. If the shares can firm up, we see overhead resistance around the $40-$41 price levels.

CenturyLink, Inc. ( CTL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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