Cox Has 1st-Quarter Loss; Revenue Up 16%

Cox Communications Inc., the fourth-largest U.S. cable operator, had a first-quarter loss of $29.2 million as expenses rose. Sales jumped 16% because of growth in new services.

The net loss was 5 cents a share, contrasted with net income of $135.6 million, or 22 cents, a year earlier, when the Atlanta-based company had a pretax investment gain of $719.8 million. Revenue rose to $1.37 billion from $1.18 billion, the company said.

Cox’s shares fell $1.75, or 5.5%, to $30.30 on the NYSE.