Frontier Communications posts 4Q profit

STAMFORD, Conn. (AP) — Frontier Communications Corp. (FTR) on Thursday reported fourth-quarter net income of $13.9 million.

On a per-share basis, the Stamford, Connecticut-based company said it had net income of 1 cent. Earnings, adjusted for one-time gains and costs, were 4 cents per share.

The results missed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The broadband, voice and wireless Internet access provider posted revenue of $1.33 billion in the period, also falling short of Street forecasts. Analysts expected $1.34 billion, according to Zacks.

For the year, the company reported profit of $132.9 million, or 13 cents per share. Revenue was reported as $4.77 billion.

Frontier Communications shares have climbed 23 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 2 percent. In the final minutes of trading on Thursday, shares hit $8.19, a climb of 75 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FTR at http://www.zacks.com/ap/FTR

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Keywords: Frontier Communications, Earnings Report

Source Article from http://finance.yahoo.com/news/frontier-communications-posts-4q-profit-213355539.html

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