Why Telecommunications Company Frontier's Stock Is Sliding Today
Portfolio Pulse from Anusuya Lahiri
Frontier Communications Parent, Inc (NASDAQ:FYBR) reported a Q3 FY23 revenue decline of 0.6% YoY to $1.436 billion, slightly below consensus. The company's EPS of $0.05 beat the consensus loss of $(0.06). Despite growth in fiber-based products, declines in copper-based products offset the gains. The company reiterated its FY23 adjusted EBITDA outlook of $2.11 billion - $2.16 billion. FYBR shares are trading lower by 4.77% at $17.07.
November 01, 2023 | 7:28 pm
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Frontier Communications reported a slight revenue decline and its shares are trading lower. However, the company beat EPS estimates and showed growth in fiber-based products.
Frontier Communications reported a slight revenue miss, which could negatively impact investor sentiment and drive the stock price down in the short term. However, the company beat EPS estimates and showed growth in fiber-based products, which could potentially offset some of the negative impact. The company's stock is already trading lower, indicating a negative short-term impact.
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IMPORTANCE 80
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