Frontier Communications (FTR) Tops Q3 EPS by 2c
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Frontier Communications (NASDAQ: FTR) reported Q3 EPS of $0.03, $0.02 better than the analyst estimate of $0.01. Revenue for the quarter came in at $1.42 billion versus the consensus estimate of $1.43 billion.
Customer revenue for the third quarter of 2015 of $1,223 million decreased 1.1% from $1,236 million in the second quarter of 2015. Total residential revenue was $606 million for the third quarter of 2015, compared to $615 million in the second quarter of 2015. Total business revenue was $617 million for the third quarter of 2015, compared to $621 million in the second quarter of 2015.
At September 30, 2015, Frontier had 3,147,000 residential customers. The third quarter of 2015 resulted in a net reduction of 0.9% of our residential customers, compared to a net reduction of 0.6% in the second quarter. The average monthly residential revenue per customer was $63.83 in the third quarter of 2015, a decrease of $0.60, or 0.9%, compared to the second quarter.
At September 30, 2015, Frontier had 294,000 business customers. The third quarter of 2015 resulted in a net reduction of 1.7% of our business customers, compared to a net reduction of 0.6% in the second quarter. The average monthly business revenue per customer was $693.58, an increase of 0.6% over the second quarter, as the business customer decline was primarily from the small business customer set.
At September 30, 2015, Frontier had 2,434,000 broadband customers. We added 27,200 net broadband customers during the third quarter of 2015 compared to 29,200 net additions in the second quarter.
At September 30, 2015, Frontier had 560,000 video customers. The third quarter of 2015 resulted in a net reduction of 9,600 video customers, including 6,900 satellite video customers, compared to the second quarter reduction of 5,000 video customers, including 2,500 satellite video customers.
For earnings history and earnings-related data on Frontier Communications (FTR) click here.
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