NEW YORK (TheStreet) -- Frontier Communications (FTR) shares are down 0.46% to $6.46 in after-hours trading on Monday after the company reported its third quarter earnings results after the closing bell today.
The communications company reported net income of $47.7 million, or 5 cents per diluted share, 2 cents better than the 3 cents per share analysts were expecting for the period.
Revenue for the quarter fell slightly from the year ago period to $1.14 billion from $1.18 billion last year, but still beat analysts expectations of $1.10 billion.
The company also reported that it signed a $100 million 3-year contract to provide technical support to software company Intuit (INTU) .
TheStreet Ratings team rates FRONTIER COMMUNICATIONS CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate FRONTIER COMMUNICATIONS CORP (FTR) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, good cash flow from operations, solid stock price performance, impressive record of earnings per share growth and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."