PHOENIX (AP) — PHOENIX (AP) — Cable One Inc. (CABO) on Thursday reported first-quarter net income of $57.4 million.
On a per-share basis, the Phoenix-based company said it had net income of $9.62.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $14.40 per share.
The telecommunications company posted revenue of $421.9 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $421.1 million.
Cable One shares have declined 2.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $693.98, a decline of 39% in the last 12 months.
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