Shentel’s Q3 Broadband Revenue Rises 4.2% to $50.7 Million

  • Shentel

EDINBURG, VA — Shenandoah Telecommunications Company (Shente) announced in its third quarter 2020 broadband revenue rises 4.2% to $50.7 million.

Third Quarter 2020 Highlights:

• Strong Broadband data net additions of 6,000 with Glo Fiber contributing 1,500

• Executed Glo Fiber franchise agreements in six new markets in Maryland, Pennsylvania, Virginia and West Virginia

• Launched fixed wireless broadband service in the counties of Albemarle and Rockingham, Virginia, in October 2020 under the brand name of Beam

• Acquired CBRS spectrum for $16.1 million

"Our Broadband business had another quarter of strong operating results with continued demand for our high speed Internet services. We are very excited by the early results of Glo Fiber with a record quarter of net additions and high customer interest following our launch of Beam in October. Based on our track record of success, we plan to accelerate our investments in these new initiatives to increase our Broadband addressable market to over 700,000 homes passed and serve as a catalyst for delivering sustainable long-term growth. Solid operating results along with our strong cash flow generation in 2020, supports returning value to our shareholders with our increased dividend," said President and CEO, Christopher E. French. "With T-Mobile’s exercise of the purchase option of our wireless business, we are focused on the upcoming Wireless appraisal process and the transition to a broadband centric company."

 

 

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