Frontier Communications' (NYSE:FTR) first quarter 2010 report, while showing 17 percent growth in profit, saw decreases in revenue and broadband growth.
For the quarter, Frontier's net income was $42.57 million, up from $36.30 million in Q1 09. When excluding $10.4 million in acquisition and integration costs related to its Verizon line purchase, Frontier's Q1 2010 net earnings would have been $49.1 million. However, revenue declined 3 percent to $519.85 million from $537.96 million.
On the services side, Frontier saw various ups and downs. Of course, local and long-distance revenues declined from $242.31 million in Q1 09 to $223.58 million as the service provider lost 26,000 traditional voice lines, a slight increase over the 25,312 lines it lost in Q4 09.
While broadband and video did enjoy some growth with about 8,100 broadband and 2,800 video customers signing up for its services in Q1, these results were down from the 14,616 and 8,426, respectively, that Frontier signed on in Q4 09.
- see the earnings release here
- RTTNews has this article
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