Frontier Communications Corp. (NASDAQ:FTR) stock continued to fall in April, down more than 12% during the month according to data from S&P Global Market Intelligence, amid market worry about what first-quarter results would hold. Those numbers did come in lower than expected in early May.
Frontier's stock had already taken a big hit following the company's full-year 2016 earnings released in February. Looking ahead to the first quarter, the market didn't have much hope for more encouraging results, but it seemed that throughout April, those expectations turned even lower, which led to increasingly steady declines in the stock price. The fears proved well-founded when the company reported rough results on May 2, including a net loss of $75 million after the company's residential subscriber base continued to decline.
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