November 2, 2017

Frontier trims 3Q loss

Matt Pilon
Matt Pilon
Frontier's Trumbull Street facility in downtown Hartford.

Norwalk-based phone, television and internet provider Frontier Communications narrowed its third-quarter loss, as expense reductions outpaced falling revenue.

Frontier lost $92 million, or $1.19 per diluted share, in the quarter ended Sept. 30, compared with a $134 million loss, or $1.73, in the year-ago quarter.

"Our third quarter results highlight the ongoing stabilization across our business as we focus on executing our strategy," CEO Dan McCarthy said in a statement.

Operating revenue fell 10.7 percent over the year, from $2.52 billion to $2.25 billion, while operating expenses shrank by $320 million, or 14.2 percent.

Frontier lost 99,000 consumer customers and 63,000 commercial customers during the recent quarter.

The company has 23,181 employees, down from 30,358 a year ago.

Frontier became a much larger player in its home state when it acquired Southern New England Telephone from AT&T in 2014 for $2 billion.

In the two years that followed the acquisition, the company lost $248 million, according to reports it files with state regulators.

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