Windstream Holdings Inc.WIN is a leading rural local exchange carrier in the U.S. The company offers broadband, telephony and digital TV services to consumers primarily in rural areas. Windstream also providesadvanced network communications such as cloud computing and managed services to business enterprises.Recently, Windstream completed the tax-free spin-off of its select telecommunications network assets to become an independent publicly traded real estate investment trust.With the spin-off now in place, the company aims to offer faster broadband speeds and more robust performance to its consumers.Additionally, Windstream has expanded its fiber-based high-band Wavelength Division Multiplexing (WDM) or "Wave" service to cater to the demand of enterprise customers for dedicated, high-bandwidth data center connectivity solutions. We believe the company’s network expansion will continue to generate and diversify its revenue streams, going forward. However, threats from a competitive market, soft carrier transport business situation, and a highly leveraged balance sheet may weigh upon the quarter’s performance.Windstream currently carries a Zacks Rank #1 (Strong Buy). The company has generated a massive positive average earnings surprise of 187.51% in the previous four quarters. We have highlighted some of the key stats from this just-revealed announcement below:Earnings: Windstream posted adjusted net loss per share in Q1 of 23 cents per share, while our Zacks Consensus Estimate called for a net loss of 54 cents per share. Investors should note that these figures take out stock option expenses.Revenue: Windstream reported total revenue of $1,373.4 million, below our Zacks Consensus estimate of $1,378.8 million.Key States to Note: In the reported quarter, Windstream lost 85,800 household lines and 40,400 high-speed Internet customers. At quarter end, the company had 1.4307 million voice lines, 1.092 million high-speed Internet customers and 0.35 million digital TV customers.Check back later for our full write up on this Windstream earnings report later! Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report WINDSTREAM HLDG (WIN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research