Global Crossing (GLBC) drops 4.2% after reporting Q2 EPS of -$0.57, above the -$0.62 consensus....


Global Crossing (GLBC) drops 4.2% after reporting Q2 EPS of -$0.57, above the -$0.62 consensus. Revenue of $692M (+10% Y/Y) is above the $673M consensus, and free cash flow of $10M is up from -$93M in Q1. Company guides for 2011 "invest and grow" revenue growth of 6-9%. Consensus is for 4.8% total revenue growth.

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