Frontier Communications reported Q3 revenue of $2.25 billion, down from $2.30 billion in the preceding quarter. Net loss for the quarter was $38 million.
“Our third quarter results highlight the ongoing stabilization across our business as we focus on executing our strategy,” said Dan McCarthy, President and CEO. “During the quarter, we were pleased with the continued improvement in subscriber trends and churn in our California, Texas and Florida (CTF) markets, ongoing stabilization in our commercial business, and continued operating efficiencies.
Some highlights:
- Consumer revenue was $1.1 billion, a sequential decline of $22 million versus the $40 million sequential decline in the second quarter.
- Customer churn improved to 2.08% (1.92% for Frontier Legacy and 2.33% for CTF operations) compared to 2.24% for the second quarter of 2017 (1.95% for Frontier Legacy and 2.69% for CTF operations), with CTF FiOS being the primary driver of the overall improvement.
- Combined Average Revenue Per Customer (ARPC) of $80.91 ($63.99 for Frontier Legacy and $107.33 for CTF operations). Excluding the positive one-time impact of the Mayweather vs. McGregor fight in the quarter, each of these measures of ARPC was stable sequentially.
- The hurricanes in Texas and Florida led to $12 million in losses, including operating expenses of $9 million and capital expenditures of $3 million.
- CAPEX for Q3 was $268 million, up from $263 million in Q2.
