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DALLAS - Frontier Communications Parent, Inc. (NASDAQ:FYBR) reported third-quarter results that exceeded revenue expectations while meeting earnings estimates, driven by accelerated fiber broadband growth and improved operational efficiency.
The telecommunications company reported a net loss of -$0.30 per share for the third quarter, in line with analyst expectations. Revenue reached $1.55 billion, slightly above the consensus estimate of $1.54 billion and representing a 4.1% increase year-over-year.
Frontier achieved record fiber broadband customer growth, adding 133,000 fiber net additions during the quarter, resulting in 20.2% year-over-year growth in fiber broadband customers. Consumer fiber broadband revenue surged 25.8% compared to the same period last year, supported by 4.9% growth in average revenue per user (ARPU).
"The team absolutely crushed it — once again delivering our best quarter ever," said Nick Jeffery, President and Chief Executive Officer of Frontier. "We achieved outstanding results across our operational and financial metrics, delivered double-digit EBITDA growth and reached an all-time high in customer growth."
Adjusted EBITDA increased 16% year-over-year to $637 million, driven by revenue growth, lower content expenses, and cost efficiencies, partially offset by higher customer acquisition costs.
The company continued its fiber expansion strategy, adding 326,000 fiber passings during the quarter to reach 8.8 million total locations passed with fiber. Consumer fiber broadband customer churn improved to 1.41% compared to 1.49% in the third quarter of 2024.
Frontier’s pending acquisition by Verizon Communications Inc., announced on September 4, 2024, is expected to close by the first quarter of 2026, subject to regulatory approvals and other closing conditions.
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