R.H. Donnelley beats Q1 revenue estimates, backs 2008 outlook

R.H. Donnelley Corp. (NYSE:RHD) shares are rising 19% in morning action after the Yellow Pages publisher reported first-quarter revenue of $674.7 million versus $661.3 million during the same time a year ago. Wall Street analysts anticipated $664.5 million in revenue.

The firm posted a quarterly loss of $1.62 billion, or $23.60 per share, down drastically from a profit of $16 million, or $0.22 per share, a year earlier. The Cary, N.C.-based company took a $2.5 billion goodwill impairment charge because of its lower stock price and value of its bonds. Excluding the impairment charge, R.H. would have posted a quarterly profit of $15 million. Analysts expected earnings of $0.17 per share.

Shares of the company already soared on Tuesday after its competitor Idearc (NYSE:IAR) posted better-than-expected results for the first quarter.

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