Earns-TCI,0171ENGLEWOOD, Colo. (AP) - Tele-Communications Inc. on Wednesday reported a third-quarter net loss of $136 million, citing investments in cable systems and new technology.
TCI, the nation's largest cable operator, attributed losses to the $2.25 billion acquisition of Viacom's cable television stations in five states. The company expects to add 1.2 million subscribers later this year.
TCI reported a profit of $32 million in the third quarter of 1995. The company reported total revenues of $2.1 billion for the three months ended Sept. 30, compared to $1.7 billion in the same quarter a year ago.
The company said higher programming costs and higher costs associated with increased subscriptions also cut into profits. The company's operating cash flow, which TCI considers a more accurate measure of its performance, rose to $606 million from $533 million.
The company's stock rose 25 cents to $13.75 on the Nasdaq Stock Market.
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