Cox Communications Moves to a Loss

 

Updated from 8:21 a.m. EST

Cox Communications(COX Quote) Thursday said it posted a small loss in its fourth quarter, despite a sizable increase in revenue.

The cable company lost $11.3 million, or 2 cents a share, vs. a profit of $179.6 million, or 28 cents a share, a year ago, when the company recorded a $255.2 million pretax gain on its investments. Fourth-quarter results included an $875,000 in losses on investments.

On a conference call with analysts, CEO Jim Robbins suggested that Cox was not interested in going after a media content player, following Comcast's(CMCSA Quote) bid for Disney (DIS Quote) Wednesday. Cox has been in a high-profile dispute with Disney's ESPN over programming costs.

Revenue in the fourth quarter rose 12% to $1.51 billion, thanks to increases in digital cable, high-speed Internet access and telephone subscriptions and higher basic cable rates.

"Customer demand for the tremendous value of our bundled video, voice and high-speed data services drove strong growth," the company said.

  • Loading Comments...
  •  
< Previous
1 2

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin

Recent Comments





Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,318.16 1,091.38 2,146.04 33.56
Oil *
77.53
DOWN
14.28
DOWN
3.52
DOWN
10.78
UP
0.07
10 Yr
3.36%
SPDR Gold
112.94
-0.14%
-0.32%
-0.50%
+0.21%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services