Frontier Communications Q2 Profit Matches Estimates - Quick Facts

(RTTNews) - Frontier Communications Corp. (FTR) reported a second quarter net loss of $28 million, or $0.03 per basic share compared to profit of $38 million or $0.04 per basic share, last year. The second quarter of 2015 includes acquisition related interest expense of $73 million, acquisition and integration costs of $35 million and certain tax benefit items of $15 million. Adjusted net income was $27 million, or $0.03 per basic share, for the second quarter of 2015.

On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.03 for the quarter. Analysts' estimates typically exclude special items.

Free cash flow was $200 million for the second quarter of 2015.

Revenue was $1.37 billion, compared to $1.15 billion, a year ago. Analysts expected revenue of $1.36 billion for the quarter.

For the full year of 2015, the company updated its guidance to take into consideration its acceptance of the Federal Communications Commission's CAF II subsidy program. The company's expectation for free cash flow is $825 million to $865 million and for capital expenditures for Frontier business operations is $700 million to $750 million.