Frontier Communications (FTR) Tops Q3 EPS by 1c

Frontier Communications (NASDAQ: FTR) reported Q3 EPS of $0.05, $0.01 better than the analyst estimate of $0.04. Revenue for the quarter came in at $1.14 billion versus the consensus estimate of $1.14 billion.

“We are very pleased to have achieved sequential growth both in residential and in business customer revenue in the third quarter,” said Maggie Wilderotter, Chairman and CEO. “This represents continuing progress in our objective of improving our revenue trajectory. We also delivered our seventh consecutive quarter of strong broadband net additions, with market share improvements in 81% of local markets year-to-date. In addition, today we announced an expansion of our strategic partnership with Intuit to provide premium tech customer support to their small business customers and accountants who use QuickBooks® Online, QuickBooks® desktop, Payments and Payroll products. Finally, our “America’s Best Communities” prize contest launched this quarter with DISH Networks and CoBank as our key partners, providing small communities in the Frontier footprint the opportunity to win up to $3 million for submitting and implementing a strong economic development and improved lifestyle plan. With this momentum, combined with the potential we have in our newly-acquired Connecticut markets, we are extremely well positioned to achieve our long-term objectives of revenue growth, delivering strong free cash flow, and maintaining a very attractive dividend payout ratio.”

For earnings history and earnings-related data on Frontier Communications (FTR) click here.

You May Also Be Interested In

• Nomura/Instinet Upgrades Genting Singapore (GENS:SP) (GIGNY) to Neutral
• Lument Finance Trust (LFT) Misses Q2 EPS by 17c
• Eledon Pharmaceuticals, Inc. (ELDN) Misses Q2 EPS by 12c