Cincinnati Bell Inc. CBB reported mixed financial numbers in the second quarter of 2017. While the top line surpassed the Zacks Consensus Estimate, the bottom line fell below the same. On a GAAP basis, quarterly net loss came in at $0.5 million or a loss of a penny per share compared with a net income of $75 million or $1.78 per share in the year-ago quarter. However, quarterly adjusted (excluding special items) earnings per share were 7 cents, which missed the Zacks Consensus Estimate by a penny.Quarterly total revenue of $294 million was down 2% year over year beating the Zacks Consensus Estimate of $290 million.Operating income was $20.9 million compared with $27.4 million in the year-ago quarter. Meanwhile, adjusted EBITDA (earnings before interest, depreciation and amortization) increased 8.2% year over year to $77.2 million in the reported quarter. Adjusted EBITDA margin was 26%, flat year over year.Cash FlowIn second-quarter 2017, Cincinnati Bell generated $69 million of cash from operating activities compared with $32.2 million in the prior-year quarter. Quarterly free cash flow was $20.8 million compared with a negative $24.6 million in the year-ago quarter.LiquidityCincinnati Bell ended the second quarter of 2017 with cash and cash equivalents of $58.2 million compared with $9.7 million at the end of 2016. Total debt at second quarter-end was $1,126.9 million compared with $1,206.6 million at the end of 2016.Segmental ResultsEntertainment and Communications revenues rose 5% year over year to $201.4 million owing to a 20% rise in consumer video and 40% rise in business video revenues. The increase was partially neutralized by a 33% decline in services & other revenues.IT Services and Hardware revenues decreased 13% year over year to $96 million. The downside was due to a 35% decline in Management and Monitoring revenues, 20% decline in Professional services revenues, partially mitigated by a 39% rise in unified communications revenues.Subscribers StatisticsAt the end of the second quarter of 2017, Cincinnati Bell had 0.1919 million residential voice lines, down 4.7% year over year and 0.3235 million business voice lines, up 0.3% year over year. Long distance lines were 0.3043 million, down 4.1%. DSL internet subscribers were 0.093 million, down 11.9%. Fioptics internet customers were 0.2141 million, up 8.4%. Fioptics video subscribers were 0.1428 million, up 3.8% year over year.OutlookIn 2017, Cincinnati Bell expects revenues and adjusted EBITDA of approximately $1.2 billion and $295 million (+/- 2%), respectively.Cincinnati Bell Inc Price, Consensus and EPS Surprise Cincinnati Bell Inc Price, Consensus and EPS Surprise | Cincinnati Bell Inc QuoteCincinnati Bell has a Zacks Rank #4 (Sell). The company is transforming itself from a legacy copper-based telecom operator to an IT company with contemporary fiber assets, offering flexible data, video, voice and IP solutions to both consumers and business customers. Better-ranked companies in this league are CenturyLink Inc. CTL, Level 3 Communications Inc. LVLT and Frontier Communications Corp. FTR. All three stocks currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.5 Trades Could Profit "Big-League" from Trump Policies If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Level 3 Communications, Inc. (LVLT): Free Stock Analysis Report Cincinnati Bell Inc (CBB): Free Stock Analysis Report CenturyLink, Inc. (CTL): Free Stock Analysis Report Frontier Communications Corporation (FTR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research