Cox Posts Loss on Higher Costs
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From Bloomberg News
Cable company Cox Communications Inc. had a third-quarter loss on declining investments and higher costs. Revenue rose 18% after it added more digital, telephone and Internet customers.
The net loss was $73.1 million, or 12 cents a share, contrasted with net income of $143 million, or 23 cents a share, in the year-earlier period, when Cox had a gain on investments. Sales rose 18% to $1.28 billion.
Shares of Atlanta-based Cox fell $2.30, or 7.6%, to $27.85 on the NYSE.
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