EXHIBIT 11 CENTURY TELEPHONE ENTERPRISES, INC. COMPUTATIONS OF EARNINGS PER SHARE (UNAUDITED) Three months ended March 31, - ----------------------------------------------------------------------------- 1998 1997 - ----------------------------------------------------------------------------- (Dollars, except per share amounts, and shares in thousands) Net income $ 57,694 33,135 Dividends applicable to preferred stock (102) (128) - ----------------------------------------------------------------------------- Net income applicable to common stock 57,592 33,007 Dividends applicable to preferred stock 102 128 Interest on convertible securities, net of taxes 93 120 - ----------------------------------------------------------------------------- Net income as adjusted for purposes of computing diluted earnings per share $ 57,787 33,255 ============================================================================= Weighted average number of shares: Outstanding during period 91,362 89,990 Employee Stock Ownership Plan shares not committed to be released (401) (464) - ----------------------------------------------------------------------------- Number of shares for computing basic earnings per share 90,961 89,526 Incremental common shares attributable to dilutive securities: Conversion of convertible securities 849 1,204 Shares issuable under stock option plan 1,107 325 - ----------------------------------------------------------------------------- Number of shares as adjusted for purposes of computing diluted earnings per share 92,917 91,055 ============================================================================= Basic earnings per share $ .63 .37 ============================================================================= Diluted earnings per share $ .62 .37 =============================================================================