UPDATE: Windstream Posts Downbeat Q2 Earnings

Windstream (NASDAQ: WIN) reported a 22% drop in its second-quarter earnings.

Windstream's quarterly profit fell to $39.7 million, or $0.06 per share, from $51 million, or $0.09 per share, in the year-ago period.

Its revenue dropped 1.8% to $1.51 billion. However, analysts were expecting earnings of $0.09 per share on revenue of $1.51 billion.

Windstream's operating margin narrowed to 15.1% from 15.2%.

Windstream shares closed at $8.60 yesterday.