Cincinnati Bell Inc. (NYSE:CBB) is a leading regional diversified telecommunications and technology service provider to both residential and business customers. The company operates its business through two segments: Entertainment and Communications and IT Services & Hardware.
Cincinnati Bell currently carries a Zacks Rank #3 (Hold). The company has generated a negative average earnings surprise of 16.67% in the previous four quarters. The introduction of MyTV through its Fioptics high-speed Internet service bodes well with the growth objectives of the company. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Cincinnati Bell reported third-quarter 2016 adjusted earnings per share of 7 cents, higher than the Zacks Consensus Estimate of 5 cents.
Revenue: Cincinnati Bell reported total revenue of $312.4 million, beating the Zacks Consensus Estimate of $301 million.
Key States to Note: At the end of the third-quarter of 2016, Cincinnati Bell had 0.2049 million residential local access lines, down 7.5% year over year and 0.3189 million business local access lines, up 3.8% year over year. Long distance lines were 0.323 million, down 6%. DSL Internet subscribers were 0.114 million, down 17.2%. Fioptics Internet customers were 0.185 million, up a whopping 29.2%. Fioptics video subscribers were 0.1334 million, up 23% year over year.
Check back later for our full write up on this Cincinnati Bell earnings report later!
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CINCINNATI BELL (CBB): Free Stock Analysis Report
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