Cincinnati Bell Inc. CBB reported strong financial numbers in the third quarter of 2017 wherein both the top and the bottom line outpaced the Zacks Consensus Estimate. On a GAAP basis, quarterly net loss came in at $13.8 million or a loss of 33 cents per share against net income of $16.2 million or 38 cents per share in the year-ago quarter. However, quarterly adjusted (excluding special items) earnings per share were 3 cents which surpassed the Zacks Consensus Estimate of a loss of 2 cents.Cincinnati Bell Inc Price, Consensus and EPS Surprise Cincinnati Bell Inc Price, Consensus and EPS Surprise | Cincinnati Bell Inc QuoteQuarterly total revenues of $289.2 million were down 7% year over year. However, the figure beat the Zacks Consensus Estimate of $286.3 million.Operating income was $12.7 million compared with $25.5 million in the year-ago quarter. Adjusted EBITDA (earnings before interest, depreciation and amortization) decreased 1.7% year over year to $76.2 million in the reported quarter. Adjusted EBITDA margin was 26% compared with 25% in the year-ago quarter.Cash FlowIn third-quarter 2017, Cincinnati Bell generated $33.9 million of cash from operating activities compared with $43.7 million in the prior-year quarter. Quarterly free cash flow was $6.4 million compared with a negative $24.3 million in the year-ago quarter.LiquidityCincinnati Bell ended the third quarter of 2017 with cash and cash equivalents of $43.7 million compared with $9.7 million at the end of 2016. Total debt at the end of third quarter was $1,132.8 million compared with $1,206.6 million at the end of 2016.Segmental ResultsEntertainment and Communications revenues increased 2% year over year to $196.2 million owing to a 22% rise in consumer data and 20% rise in business video revenues. The increase was partially neutralized by a 13% decline in services & other Carrier revenues.IT Services and Hardware revenues decreased 22% year over year to $96.3 million. The downside was due to a 32% decline in Management and Monitoring revenues, 24% decrease in Professional services revenues, partially mitigated by a 35% rise in unified communications revenues.Subscribers StatisticsAt the end of the third quarter of 2017, Cincinnati Bell had 0.1876 million residential voice lines, declining 8.4% year over year and 0.3240 million business voice lines, increasing 1.6% year over year. Long distance lines were 0.2991 million, reflecting a decline of 7.6%. DSL Internet subscribers were 0.0867 million, down 24.1%. Fioptics Internet customers were 0.2212 million, reflecting an increase of 19.2%. Fioptics video subscribers were 0.1435 million, up 7.6% year over year.OutlookIn 2017, Cincinnati Bell expects revenues to be in the range of $1.35 - $1.40 billion and adjusted EBITDA to be approximately $305 million (+/- 2%).Zacks RankCincinnati Bell has a Zacks Rank #4 (Sell). A few better-ranked stocks in this league are TELUS Corp. TU, Telefonica Brasil SA VIV and British Group plc BT, each carrying a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Zacks’ Best Private Investment IdeasWhile we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.Click here for Zacks' private trades >>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 TELUS Corporation (TU): Free Stock Analysis Report BT Group PLC (BT): Free Stock Analysis Report Cincinnati Bell Inc (CBB): Free Stock Analysis Report Telefonica Brasil S.A. (VIV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research