CenturyLink, Inc. (CTL - Free Report) recently announced that it has been selected to offer secure and fast cloud connectivity for AWS re:Invent — the biggest cloud event in the industry — for the fifth successive year. This latest move came after CenturyLink was designated as an Amazon Web Services (AWS) Managed Service Provider (MSP) Partner. Notably, AWS is a subsidiary of Amazon.com, Inc. (AMZN - Free Report) that provides on-demand cloud computing platforms to individuals, companies and governments.
For the five days event (Nov 26 to Nov 30), CenturyLink deployed 180 Gbps of bandwidth that will allow it to support over 85,000 devices at eight interconnected venues. The CenturyLink Cloud Connect Solutions portfolio will deliver Keynotes, live streams, hands-on labs, boot camps, breakout sessions, workshops as well as certification exams. Markedly, this solution is designed to deliver high-performance and enterprise-grade networking connections to AWS along with extensive layer 1, 2 and 3 dynamic connectivity options to allow a low-latency and highly responsive experience for hybrid-cloud applications. Also, the company will deploy AWS Direct Connect, which will allow it to secure a network connection from an enterprise's premises to AWS.
CenturyLink’s focus on transforming its business operations through product evolution and digitizing of customer interaction bodes well for revenue growth in the future. Recently, the company introduced Dynamic Connections as part of its Cloud Connect portfolio and announced the global expansion of its SD-WAN solutions.
CenturyLink expanded its platform to cloud service and software-as-a-service providers as well. Currently, the company is working with customers to enable their 5G roadmaps and strengthen its fiber footprint.
CenturyLink’s solid growth potential is an added positive. In the past year, this Zacks Rank #3 (Hold) company has gained 34.7%, outperforming the industry’s 1% growth. Moreover, the company is focused on improving operational efficiencies through network simplification and rationalization. This should help CenturyLink to improve its end-to-end provisioning time and drive standardization.
However, the company’s core local phone business has slowed down due to the substitution of traditional wireline telephone services by wireless and other competitive offerings.
Stocks to Consider
Some better-ranked stocks from the same space are ATN International, Inc. (ATNI - Free Report) and United States Cellular Corporation (USM - Free Report) . Both the companies sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
ATN International surpassed estimates thrice in the trailing four quarters, with an average beat of 138.12%.
United States Cellular outpaced estimates in each of the preceding four quarters, the average beat being 108.11%.
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