Cincinnati Bell's Fiber Investments Pay Off

  • Cincinnati Bell
CINCINNATI - Cincinnati Bell's financial results for the second quarter of 2014 show strong wireline revenue due to the company's strategic fiber investments. Wireline revenue totaled $185 million in the quarter, up 2 percent compared to the prior year. Year-to-date, Wireline revenue is up $7 million compared to a year ago. Revenue from strategic products increased 23 percent over the prior year totaling $107 million dollars for the quarter as demand for Fioptics and IT solutions remains high.

Transforming Cincinnati Bell into a Fiber-based Company

"The initial monetization of our investment in CyrusOne and the agreement to sell our wireless spectrum are essential steps in achieving our goal of transforming Cincinnati Bell into a growing fiber based entertainment, communications and IT solutions company," said Ted Torbeck, president and chief executive officer. "The completion of these transactions and the continued growth of our strategic products demonstrates this team's ability to execute on its objectives," added Torbeck.

Wireline Segment

  • Wireline revenue for the quarter totaled $185 million, up $3 million compared to the prior year.

  • Fioptics revenue for the quarter was $34 million, up 45 percent from the prior year.

  • Strategic revenue for business customers totaled $42 million (including $2 million of Fioptics revenue) for the quarter, up 16 percent compared to the prior year.

  • Operating income was $51 million in the quarter, up 3 percent from a year ago.

  • Adjusted EBITDA totaled $83 million for the quarter, down 1 percent from the same period in 2013.

  • Fioptics video subscribers totaled 82,500 at the end of the second quarter, up 31 percent compared to the same period in 2013.

  • Fioptics internet subscribers totaled 98,300, adding 6,700 new Fioptics high-speed internet subscribers in the quarter.

  • In the second quarter of 2014, we passed an additional 19,100 units with Fioptics. The Fioptics suite of products is now available to 307,100 addresses, approximately 38 percent of Greater Cincinnati.


 

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