Frontier Communications Reports Q2 2024 Revenue of $1.48 Billion, Net Loss of $123 Million, and Adjusted EBITDA of $560 Million

Frontier Communications Holdings, trading under the ticker $FYBR, reported its second-quarter earnings for 2024, revealing a revenue of $1.48 billion, a 2.1% increase year-over-year. The growth in fiber-based products helped offset declines in copper-based products. However, the company also recorded an operating income of $91 million and a net loss of $123 million. Adjusted EBITDA rose by 5.1% to $560 million. Despite the challenging market conditions, Frontier added more fiber and broadband subscribers in the second quarter than in the first quarter, indicating a positive trend in subscriber growth. The company noted that its fiber builds were at their highest level ever during this quarter, contrasting with some market perceptions of a slowdown in fiber expansion. Additionally, competitors like AT&T and T-Mobile have also ramped up their fiber builds, with AT&T achieving its highest level since the first quarter of 2023 and T-Mobile entering joint ventures to expand its reach significantly.