Cox Earnings Rebound on New Services Boost
Cox Communications Inc., the fourth-largest U.S. cable operator, said it rebounded to a second-quarter profit of $117.7 million, helped by sales of new services. The company also boosted its profit growth forecast for the year.
Atlanta-based Cox raised its 2003 forecast for growth in operating income before depreciation, amortization and one-time items to 17% to 18%, up from an earlier estimate of 15% to 16%.
Cox sells a discounted package of cable, high-speed Internet and telephone service.
Cox shares fell 33 cents to $32.34 on the New York Stock Exchange. They have risen 14% this year.
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