Frontier Communications (Nasdaq: FTR) said it dropped 2,800 FiOS TV subscribers in the fourth quarter, but the rural telco gained an additional 20,900 satellite TV customers thanks to its pact to resell Dish Network (Nasdaq: DISH) service.
Stamford, Conn.-based Frontier said it picked up 5,300 broadband subscribers in the fourth quarter, growing its high-speed Internet customer base to 1.79 million. But the company lost 50,400 residential subscribers, which contributed to the slight total revenue decrease to $1.23 billion.
Frontier ran an aggressive subscriber acquisition campaign in the fourth quarter in which it offered $500 Apple (Nasdaq: AAPL) gift cards to cable subscribers who ordered subscriptions. The company said Friday that it incurred $5.5 million in costs from the Apple promotion.
Frontier posted $24.9 million (2 cents per share) in net income in the fourth quarter.
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