Frontier Communications Stock Gains On Q2 Performance: The Details
Portfolio Pulse from Anusuya Lahiri
Frontier Communications Parent, Inc (NASDAQ:FYBR) reported a Q2 FY23 revenue decline of 0.7% year-on-year to $1.45 billion, beating the consensus of $1.44 billion. The company saw declines in copper-based products but growth in fiber-based products. The company reiterated its FY23 adjusted EBITDA of $2.11 billion - $2.16 billion and targeted fiber builds to 1.3 million new locations. FYBR shares are trading higher by 4.41% at $18.59.
August 04, 2023 | 5:16 pm
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Frontier Communications reported a Q2 FY23 revenue decline of 0.7% year-on-year to $1.45 billion, beating the consensus. The company reiterated its FY23 adjusted EBITDA of $2.11 billion - $2.16 billion and targeted fiber builds to 1.3 million new locations. FYBR shares are trading higher by 4.41%.
Frontier Communications reported better than expected Q2 FY23 revenue and reiterated its FY23 adjusted EBITDA, which is likely to have a positive impact on the stock price in the short term. The company's shares are already trading higher.
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