Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Frontier Communications Parent, Inc (NASDAQ:FYBR) reported a first-quarter FY23 revenue decline of 0.5% year-on-year to $1.44 billion, beating the consensus of $1.43 billion.
- The growth in consumer, business, and wholesale fiber was more than offset by copper footprint and subsidy declines.
- Consumer revenue was $761 million, a 1.9% decline Y/Y, and Consumer fiber revenue rose by 10.1% Y/Y to $448 million.
- Consumer fiber broadband revenue increased 17.3% Y/Y to $298 million, driven by growth in fiber broadband customers.
- Business and wholesale revenue was $657 million, a 1.4% decline Y/Y, while the Business and wholesale fiber broadband revenue was $281 million, a 6% growth Y/Y.
- Frontier built fiber to 339,000 locations, bringing total fiber passings to 5.5 million. Consumer fiber broadband net adds were 84,000, resulting in fiber broadband customer growth of 19.5%.
- The adjusted EBITDA margin expanded by 80 bps to 36%.
- EPS of $0.01 missed the consensus of $0.09.
- Frontier held $2.0 billion in cash and equivalents and used $(765) million in free cash flow.
- Outlook: Frontier reiterates FY23 adjusted EBITDA of $2.11 billion - $2.16 billion and targeted fiber builds to 1.3 million new locations.
- Price Action: FYBR shares traded lower by 12.70% at $18.74 on the last check Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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