PHOENIX (AP) — Cable One Inc. (CABO) on Wednesday reported third-quarter net income of $38.3 million.
On a per-share basis, the Phoenix-based company said it had profit of $6.70.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $7.84 per share.
The telecommunications company posted revenue of $268.3 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $267.5 million.
Cable One shares have increased 31 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $918.65, a rise of 33 percent in the last 12 months.