Cincinnati Bell: 4Q Earnings Snapshot
CINCINNATI (AP) _ Cincinnati Bell Inc. (CBB) on Thursday reported a loss of $30 million in its fourth quarter.
On a per-share basis, the Cincinnati-based company said it had a loss of 65 cents. Losses, adjusted for one-time gains and costs, came to 55 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share.
The regional telephone company posted revenue of $399 million in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $396.5 million.
For the year, the company reported a loss of $69.8 million, or $1.73 per share, swinging to a loss in the period. Revenue was reported as $1.38 billion.
Cincinnati Bell expects full-year revenue in the range of $1.52 billion to $1.58 billion.
Cincinnati Bell shares have risen 16 percent since the beginning of the year. The stock has dropped 40 percent in the last 12 months.