Frontier Communications Corp. on Tuesday reported second-quarter earnings of $18 million, or 2 cents per share, a 44 percent drop from the $32.2 million, or 3 cents a share, posted for the same three months of last year. The Stamford, Conn.-based communications company also reported second-quarter revenue of $1.26 billion, 5 percent less than revenue reported for the second quarter of 2011.
In a statement, the company blamed the decrease on “decreases in the number of residential and business customers, switched access, data services and video revenue.” As of June 30, Frontier had 2.98 million residential customers and 296,500 business customers.
Earnings were released after trading ended Tuesday. Frontier’s stock closed at $3.92, up 21 cents a share, on the Nasdaq stock market.
Frontier offers phone, broadband Internet and digital TV service in northeast Indiana. The company employs about 1,400 locally.