Frontier Communications said capital expenditures (Capex) touched $377 million in the third quarter of 2021 against $314 million in the third quarter of 2020, as fiber expansion initiatives accelerated.
“We gained strong momentum in the quarter and delivered record results on two of the most important drivers of our transformation – building and selling fiber. The team’s diligent operational execution and relentless focus on improving the customer experience are beginning to show in our results,” said Nick Jeffery, President and Chief Executive Officer of Frontier.
Frontier reported 6.1 percent decline in consolidated revenue for the third quarter ended September 30, 2021 at $1.58 billion, as growth in consumer fiber broadband was more than offset by declines in video, voice, and wholesale services.
Consumer fiber broadband revenue increased 14.6 percent to $243 million, driven by strong growth in fiber broadband customers and average revenue per customer (ARPU). Consumer fiber broadband net adds were approximately 29,000, the ninth consecutive quarter of positive consumer fiber net adds, resulting in fiber broadband customer growth of 5.1 percent.
Consumer Results
Consumer revenue was $800 million, a 4.2 percent decline, as strong fiber broadband revenue growth was offset by legacy video and voice declines.
Consumer fiber revenue was $409 million, a 0.7 percent increase, as strong consumer broadband revenue growth offset declines in voice, video, and wholesale.
Consumer fiber broadband revenue was $243 million, a 14.6 percent increase over the third quarter of 2020.
Consumer fiber customer net adds were 29,000, an increase of over 6,000, or 5.1 percent.
Consumer fiber broadband customer churn was 1.56 percent, a decline from 1.80 percent.
Consumer fiber broadband ARPU was $63.35, a 10.0 percent increase, as customers continue to upgrade to faster speeds.
Business and wholesale revenue was $693 million, a 6.5 percent decline, due to strategic repositioning with key business partners to reset pricing in exchange for higher win shares in the future and higher overall expected cash flow stability.
Business and wholesale fiber broadband revenue was $275 million, a 1.4 percent decline.
Business fiber broadband customer churn was 1.26 percent, a decline from 1.62 percent in the third quarter of 2020.
Business fiber broadband ARPU was $104.76, a 3.9 percent increase over the third quarter of 2020.
