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Tide Turns for Level 3
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Level 3, the Broomfield-based Internet network provider, has struggled mightily in recent years. Once a Wall Street darling, the company's shares have plunged amid massive losses.
But the company's earning's report today could signal a turning point. Level 3, whose shares jumped by 17 percent in mid-day trading, cited increased use of online video for its better-than-expected sales figure. The use of online video is surely going to continue, as Internet users increasingly accept this form of online programming.
For instance, NFL.com this year plans for the first time to Webcast its draft coverage. CBS also this year expanded its Webcast of March Madness. While TV stations in the past have sought to charge for this type of content, the trend is clearly toward an advertising-supported business model.
To be sure, this is good news for network providers such as Level 3. It's also good news for the company's huge Colorado employee base, many of whom have ridden the company's ups and downs.
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