PHOENIX (AP) — PHOENIX (AP) — Cable One Inc. (CABO) on Thursday reported a loss of $1.16 billion in its second quarter.
On a per-share basis, the Phoenix-based company said it had a loss of $204.35. Losses, adjusted for asset impairment costs and non-recurring costs, were $17.60 per share.
The telecommunications company posted revenue of $348.9 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $347.8 million.
Cable One shares have dropped 61% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $44.48, a fall of 67% in the last 12 months.
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