Frontier Q1 Sales, Operating Income Fall as Some Customers Depart
Frontier Communications Q1 sales and operating income fell from the year-ago period as some customers departed, a trend seen at some other telcos. Revenue fell about 4 percent to $2.1 billion, and operating income was down about 9 percent to…
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$339 million. Total customers including businesses fell about 7.8 percent to 4.39 million. Broadband, video and Dish Network subscribers declined. Consumer copper broadband sub losses “more than halved sequentially,” CEO Dan McCarthy said Tuesday. “Nonetheless we have substantial work ahead." About 496,000 locations are enabled with Connect America Fund Phase II broadband, the carrier reported. The company recently added CAF locations, interim Chief Financial Officer Sheldon Bruha told analysts. It's building fiber to the home to some 19,000 rural households, "leveraging state funding sources," Frontier said. "Fixed wireless broadband builds continue in CAF areas." Mead is "pleased that the FCC is beginning to move forward with planning for the next phase” of such subsidies (see 1904120008), he said. There were "substantial improvement in broadband unit trends," the company said. "Fiber improvements reflect stronger gross additions."