Frontier Communications (FYBR) Stock is Tumbling On Lackluster Q1 Results: Here's The Details - Frontier Communications (NASDAQ:FYBR)

Frontier Communications Parent, Inc 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.

Frontier Communications Stock is Tumbling On Lackluster Q1 Results: Here's The Details