Frontier Communications Q2 Earnings: Record Fiber Broadband, Customer and ARPU Growth, Annual Guidance Hike
Portfolio Pulse from Anusuya Lahiri
Frontier Communications (NASDAQ: FYBR) reported Q2 revenue growth of 2.1% YoY to $1.48 billion, beating estimates. However, EPS loss of $(0.49) missed expectations. The company saw significant growth in fiber broadband revenue and customer base, leading to an annual guidance hike. Despite these gains, FYBR shares traded lower by 3.74%.
August 02, 2024 | 1:54 pm
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Frontier Communications reported Q2 revenue growth of 2.1% YoY to $1.48 billion, beating analyst estimates. However, the EPS loss of $(0.49) missed expectations. The company saw strong growth in fiber broadband revenue and customer base, leading to an annual guidance hike. Despite these positive developments, FYBR shares traded lower by 3.74%.
The revenue growth and beating of analyst estimates are positive indicators, but the missed EPS expectations and the decline in share price suggest mixed investor sentiment. The strong performance in fiber broadband and the annual guidance hike are positives, but the immediate market reaction was negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100