Plus   Neg

Cincinnati Bell Reports Adj. Profit In Q1 - Quick Facts

Cincinnati Bell Inc. (CBB) reported first quarter adjusted profit per share of $0.20 compared to a loss of $0.48 per share, prior year. The company recorded an operating income of $5 million, excluding the $25 million break-up fee paid in connection with the termination of Cincinnati Bell's previously announced merger agreement with Brookfield in order to enter into the merger agreement with MIP. Adjusted EBITDA totaled $102 million for the first quarter of 2020, up 4% from a year ago.

First quarter consolidated revenue totaled $380 million, consistent with the prior year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amid the worsening coronavirus pandemic and mounting costs, banking major Wells Fargo & Co. is preparing to cut thousands of jobs starting later this year, Bloomberg Law reported. Citing people with knowledge of the confidential talks, the report noted that executives are drafting plans that may ultimately eliminate tens of thousands of positions from its about 263,000 workforce. KIND Healthy Snacks is recalling a limited number of Oats & Honey Granola pouches citing the presence of undeclared sesame seeds, the U.S. Food and Drug Administration announced. The recall involves KIND Oats & Honey Granola with Toasted Coconut. Sesame seeds, a known allergen, is not listed as an ingredient in the product, instead, the label lists "sesame seeds" under the "May Contain Coffee retail giant Starbucks is bringing back its buy-one-get-one free or BOGO deals on Thursday. During Happy Hour, from 2 to 7 p.m., the customers will get one free drink with all handcrafted beverages, sizes grande or larger. The offer excludes a pre-bottled drink or drip coffee. The deal reportedly is available at participating locations in the U.S. and Canada.
Follow RTT