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Frontier Communications (FTR) Q2 Loss Narrower than Expected

Frontier Communications Corp. FTR reported mixed financial results in the second quarter of 2017. The company’s adjusted net loss was narrower than the Zacks Consensus Estimate while revenues lagged the same.

On a GAAP basis, net loss in the reported quarter was $715 million or $9.21 per share compared with a net loss of $80 million or $1.05 per share in the prior-year quarter. However, quarterly adjusted (excluding special items) loss per share was $1.10, narrower than the Zacks Consensus Estimate of a loss of $1.12.

Total revenue decreased 11.7% year over year to $2,304 million, lagging the Zacks Consensus Estimate of $2308.7 million. Segment-wise, Customer revenues totaled $2,106 million, down 11.5% year over year while Switched access and subsidy revenues were $198 million, down 12.8% year over year.

Within the Customer segment, voice services revenues totaled $724 million, down 13.4%, data and internet services revenues came in at $974 million, down 7.1%, video revenues plunged 21.5% to $329 million and Other revenues totaled $79 million, up 1.3% year over year.

Category-wise, Consumer revenues were $1,124 million, down 15.6%, Commercial revenues came in at $982 million, down 6.4%. Switched access and subsidy revenues were $198 million, down 12.8% year over year.

Operating loss in the second quarter was $394 million against an operating income of $311 million in the prior-year quarter. Quarterly operating...


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