Cincinnati Bell (CBB) Misses Q1 EPS by 5c, Beats on Revenues; Offers FY18 Revenue Mid-Point Outlook Above Consensus

Cincinnati Bell (NYSE: CBB) reported Q1 EPS of ($0.19), $0.05 worse than the analyst estimate of ($0.14). Revenue for the quarter came in at $296 million versus the consensus estimate of $294.45 million.

HIGHLIGHTS

• Revenue of $296 million and Adjusted EBITDA1 of $79 million
• Entertainment and Communications revenue of $174 million, with Fioptics revenue up 13% and Enterprise Fiber revenue up 6% year-over-year
• Fioptics internet subscribers increased 6,200 during the quarter and total internet subscribers were up 2,200
• IT Services and Hardware revenue of $128 million, up $47 million from a year ago
• Cash provided by operating activities totaled $59 million, up $5 million year-over-year
• Free cash flows2 totaled $33 million, up $23 million year-over-year

GUIDANCE:

Cincinnati Bell sees FY2018 revenue of $1.2-1.275 billion, versus the consensus of $1.22 billion.

For earnings history and earnings-related data on Cincinnati Bell (CBB) click here.

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