Cincinnati Bell's Fioptics success continued into the second quarter as revenues jumped 45 percent year-over-year to $34 million.
Similar to earlier quarters, the rise in Fioptics results was driven by an uptick in both Fioptics video and Internet subscribers. During the quarter, Cincinnati Bell added 6,700 Fioptics Internet subscribers and 5,000 Fioptics video subscribers, ending the quarter with a total of 98,300 and 82,500 subscribers, respectively.
To prepare for future growth opportunities, the telco passed an additional 19,100 units with Fioptics. It said that the Fioptics suite of products is now available to 307,100 addresses, approximately 38 percent of Greater Cincinnati.
The increase in Fioptics revenues drove up wireline revenue $3 million year-over-year to $185 million.
Cincinnati Bell also saw gains in the business and IT and hardware segments, where strategic revenue rose 16 percent and 18 percent over the same period a year ago to $42 million and $102 million, respectively. What's more, strategic managed and professional services revenue was $34 million in the quarter, up 16 percent compared to the prior year.
Strategic product revenues increased 23 percent over the prior year totaling $107 million dollars for the quarter due to high demand for Fioptics and IT solutions.
The company reported that second-quarter 2014 consolidated revenue was $320 million, up $8 million from the prior year. Operating income for the quarter totaled $36 million and net income of $114 million resulted in diluted earnings per share (EPS) of 53 cents.
Shares of Cincinnati Bell were listed at $3.65, down 1 cent or 0.27 percent, in late morning trading on the Nasdaq stock exchange.
- see the earnings release
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