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Short Take: Cox posts narrower third-quarter profit

Cable operator Cox Communications reported third-quarter income of $11.9 million, or 2 cents a share, compared with income of $1.1 billion, or $1.95 a share, a year ago as expenses increased based on rising programming costs, network maintenance and upgrades, and increased marketing and general administrative costs. Financial analysts expected the company to post a loss of 7 cents a share. Cox's quarterly net income included a gain of $59.5 million and $1.7 billion last year. Quarterly pro forma revenue increased to $526.6 million from $463.4 million a year ago.

Cable operator Cox Communications reported third-quarter income of $11.9 million, or 2 cents a share, compared with income of $1.1 billion, or $1.95 a share, a year ago as expenses increased based on rising programming costs, network maintenance and upgrades, and increased marketing and general administrative costs. Financial analysts expected the company to post a loss of 7 cents a share. Cox's quarterly net income included a gain of $59.5 million and $1.7 billion last year. Quarterly pro forma revenue increased to $526.6 million from $463.4 million a year ago.