Purpose: This study sought to comprehensively examine the reading skills and subskills of children with cochlear implants (CIs) and gain insight into the processes underlying their early reading development. Method: Fourteen 6- to 9-year-old children with CIs were assessed on a range of reading and spoken language measures. Their performances were compared to a control group of 31 children with normal hearing (NH) of the same chronological and mental age. Group differences were examined using t tests and regression modeling. Results: Children with CIs performed significantly worse than children with NH on reading accuracy, phonological processing, and spoken language tasks. The predominant predictor of reading comprehension was word reading accuracy for the CI group and listening comprehension for the NH group. Word reading profiles were similar across groups, with orthographic and phonological processing skills both contributing significant variance. Conclusions: Children with CIs demonstrated more early reading difficulties than their peers with NH. As predicted by the Simple View of Reading model, successful reading comprehension for all children related to skills in listening comprehension and word recognition. The CI group's increased reliance on word reading accuracy when comprehending written text may stem from reduced word recognition automaticity. Despite showing reduced reading accuracy, children with CIs appeared to draw on orthographic and phonological skills to a similar degree as children with NH when reading words in isolation.