Thanks to successful cost reductions, Embarq Corp. (EQ) posted unexpected profits of $191 million in 2008’s fourth quarter. However, sales did fall.
Revenue for the phone and broadband provider, which is being acquired by CenturyTel, went from $1.58 billion to $1.48 billion. Part of the problem was the loss of 157,000 landlines, as compared to 91,000 in the fourth quarter of 2007.
