Earthlink, Inc. (NASDAQ: ELNK) is a dial-up and broadband provider that has been stuck in the mud for the last year. Although Wall Street's focus this week will be on the company's earnings, due out before the bell Thursday, I think you, the individual investor, need to focus on the long-term perspective on this stock.

While I'm not saying that Earthlink is going to have a bad quarter (I simply don't have enough insight into this quarter), I'm arguing that Earthlink's long-term potential easily trumps any short-term opportunity in the stock.

Basically, the company is losing subscribers every quarter for its dial-up business, a business that is clearly technologically inferior to broadband and other new internet connection offerings. But the company is adding voice and "PeoplePC" subscribers every quarter. For those unfamiliar with PeoplePC, it is a discount dial-up service with speeds 5x as fast as normal dial-up. This product is very popular in lower- to middle-class families who want an upgrade from dial-up but don't want to pay broadband prices. Lastly, the company offers municipal wireless services.