Telecom Stock Roundup: A Mixed Bag For Sprint, CenturyLink And Frontier Communications In Q2
Zacks Investment Research | Aug 02, 2017 10:46PM ET
Last week too, was all about earnings in the telecom sector. Several sector participants declared second-quarter 2017 financial numbers, and the results were a mixed bag.
National telecom operator Sprint Corp. (NYSE:S) reported mixed financial results in the first quarter of fiscal 2017 (ended 6/30/2017), wherein its bottom line outpaced the Zacks Consensus Estimate, while the top line missed the same. In the reported quarter, Sprint witnessed net additions of 61,000 wireless customers, including postpaid net losses of 39,000, prepaid net additions of 35,000, and wholesale and affiliate net additions of 65,000.
Regional telecom operator Frontier Communications Corp. (NASDAQ:FTR) reported mixed financial results in the second quarter of 2017. The company’s adjusted net loss was narrower than the Zacks Consensus Estimate while revenues lagged the same. As of Jun 30, 2017, the number of consumer segment phone customers decreased 11.6% year over year to 4,585,000. Commercial segment phone customers decreased 10.4%, year-over-year to 473,000. The company had 4,063,000 high-speed broadband subscribers, down 8.9% and 1,007,000 video customers, down 22.8% year over year.
Meanwhile, CenturyLink Inc. (NYSE:CTL) reported mixed financial results in the second quarter of 2017, wherein the bottom line fell short of the Zacks Consensus Estimate, while the top line beat the same. As of Jun 30, 2017, total access lines were 10.733 million, down 5.95% year over year. High-speed broadband customer count was 5.868 million, down 2.03%. CenturyLink currently carries a Zacks Rank #3 (Hold). You can see Original post
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