- Associated Press - Wednesday, August 5, 2015

HONOLULU (AP) - Hawaiian Telecom Holdco, Inc. announced that second quarter profits dropped 77 percent.

The Honolulu Star-Advertiser reports (https://bit.ly/1hj0w9i ) that the state’s largest phone company announced Tuesday that income for the second quarter was $500,000, down from $2.2 million in the second quarter of 2014.

Hawaiian Telecom officials say the decrease in profit is because of significant investments in the company’s broadband network.

The company saw a 9.6 percent drop in land-line business from a year earlier, but is seeing growth in video and high-speed Internet revenue. Consumer revenue increased 4.2 percent year-over-year to $37.9 million

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Information from: Honolulu Star-Advertiser, https://www.staradvertiser.com

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