ATLANTA - Cox Communications Incorporated swung to a second-quarter net loss Wednesday as the Atlanta-based cable television, Internet access, and telephone-services provider saw the value of its investments decline. <br>
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Revenue increased 19 percent from a year earlier, however, as the company signed up more customers for its digital-cable and high-speed Internet services. <br>
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Today, Cox posted a loss of $516.2 million, or 86 cents a share for the quarter ended June 30, compared with net income of $30.7 million, or five cents a share, a year earlier. <br>
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The latest results include a pretax loss of $813.8 million, primarily for the change in value of Sprint PCS shares owned by Cox. In the second quarter of 2001, Cox reported an investment gain of $444.9 million.
http://accesswdun.com/article/2002/7/191828
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