PHOENIX (AP) — PHOENIX (AP) — Cable One Inc. (CABO) on Thursday reported a second-quarter loss of $438 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Phoenix-based company said it had a loss of $77.70. Earnings, adjusted for asset impairment costs, came to $3.23 per share.
The telecommunications company posted revenue of $381.1 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $380.8 million.
Cable One shares have declined 65% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $127.47, a decrease of 69% in the last 12 months.
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