Cincinnati Bell (CBB) Misses Q1 Earnings & Revenue Estimates

Cincinnati Bell Inc. CBBreported disappointing results in the first quarter of 2018, wherein both the top line and the bottom line missed the Zacks Consensus Estimate.   

On a GAAP basis, quarterly net loss came in at $10.9 million or 26 cents per share against net profit of $58 million or $1.37 per share in the year-ago quarter.

The significant decline in year-over-year earnings despite top-line growth was primarily due to higher operating expenses. Further, quarterly adjusted (excluding special items) loss per share was 19 cents, wider than the Zacks Consensus Estimate of loss of 15 cents.