WideOpenWest, Inc. (WOW) reported a significant loss in its fourth-quarter earnings, missing market predictions, with the numbers showing an increasing deficit compared to the same period last year.
The company's declared losses were -$43.5 million, equivalent to -$0.54 per share. In a comparable period last year, the losses were significantly lower at -$12.7 million, or -$0.15 per share.
Financial market experts had estimated, on average, that the company's losses would be -$0.01 per share. This prediction was based on data collected by Thomson Reuters and typically takes into account the exclusion of any special items.
Furthermore, WideOpenWest, Inc. also experienced a 6.5% decrease in revenue for this quarter, reporting at $168.8 million compared to the $180.5 million in the previous year.
To provide a brief overview of WideOpenWest's financial status under GAAP: The company's earnings for the 4th quarter reported a loss of $43.5 million compared to the loss of $12.7 million last year. The corresponding earnings per share were -$0.54 vis-a-vis -$0.15 last year. The company's revenue for this quarter, tallied at $168.8 million compared to last year's fourth-quarter revenue of $180.5 million.
As for future projections, the company anticipates its revenue for the next quarter to be around $159 to $162 million.
