Shares of Consolidated Communication Holdings Inc. are up about 12% after the company on Tuesday narrowed its loss in its second quarter.
The Mattoon, Ill.-based broadband communications company posted a net loss attributable to common shareholders of $11.5 million, or 10 cents a share, from a loss of $55.4 million, or 71 cents a share, in the previous year.
Stripping out one-time costs, per-share earnings were one cent. Analysts polled by FactSet were expecting adjusted per-share earnings of three cents.
Revenue for the quarter ended June 30 fell to $298.4 million from $320.4 million in the prior year. Analysts were expecting revenue of $296.3 million, according to FactSet.
The company’s stock closed Monday at $6.62 before rising Tuesday to $7.43. The share price is down less than 1% so far this year and about 13% in the last 52 weeks.