Frontier Reports First-Quarter 2023 Results

Frontier Communications reported first-quarter 2023 results:

• Built fiber to 339,000 locations;
• Added a record 87,000 fiber broadband customers, resulting in fiber broadband customer growth of 19% from the first quarter of 2022;
• Ranked No. 1 for the fastest internet upload speeds in the US according to Ookla Speedtest results from the first quarter of 2023;
• Consumer revenue of $761 million decreased 1.9% from the first quarter of 2022 as strong growth in fiber broadband was more than offset by declines in legacy copper broadband and voice;
• Consumer fiber revenue of $448 million increased 10.1% over the first quarter of 2022 as growth in consumer broadband, voice, and others more than offset declines in video;
• Consumer fiber broadband revenue of $298 million increased by 17.3% over the first quarter of 2022 driven by growth in fiber broadband customers;
• Consumer fiber broadband customer net additions of 84,000 resulted in consumer fiber broadband customer growth of 19.5% from the first quarter of 2022;
• Consumer fiber broadband customer churn of 1.20% was roughly flat with churn of 1.19% in the first quarter of 2022;
• Consumer fiber broadband average revenue per user (ARPU) of $61.44 decreased 1.1% from the first quarter of 2022 driven primarily by the autopay and gift-card incentives introduced in the third quarter of 2021.