PHOENIX (AP) — PHOENIX (AP) — Cable One Inc. (CABO) on Thursday reported second-quarter net income of $55.2 million.
The Phoenix-based company said it had net income of $9.36 per share. Earnings, adjusted for non-recurring costs, came to $10.43 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $13.27 per share.
The telecommunications company posted revenue of $424 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $422.4 million.
Cable One shares have increased almost 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $725.74, a decrease of 49% in the last 12 months.
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