Tags: Cablevision | TV | television | subscriber

Cablevision's Video Subscriber Losses Double From Prior Quarter

Thursday, 06 Nov 2014 11:16 AM

Cablevision Systems Corp.'s video subscriber losses doubled in the third quarter from the preceding quarter as it lost customers to telecom companies offering bundled video-on-demand services.

Shares of Cablevision, which lost about 56,000 video subscribers in the third quarter, fell as much as 4 percent.

Companies such as Verizon Communications Inc and AT&T Inc have been offering bundled telecom and satellite TV services at competitive prices.

Cablevision, however, reported a better-than-expected quarterly revenue due to higher advertising revenue and increased cable TV prices.

The company, controlled by New York's Dolan family, said average monthly cable revenue per customer rose 5.7 percent to $154.50 in the quarter, while cable advertising revenue grew 6.8 percent.

Adjusted operating cash flow, Cablevision's most closely watched metric, rose about 7 percent.

Cablevision's net revenue rose 3.8 percent $1.63 billion, beating the average analyst estimate of $1.61 billion, according to Thomson Reuters I/B/E/S.

Net profit attributable to the company fell to $71.5 million, or 26 cents per share, from $294.6 million, or $1.10 per share, a year earlier.

The year-earlier quarter included Cablevision's unit, Bresnan Broadband Holdings LLC, which the company sold to Charter Communications Inc last year.

Cablevision reported a net income of 26 cents per share from continuing operations, above the average analyst estimate of 18 cents.

© 2017 Thomson/Reuters. All rights reserved.

 
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Cablevision Systems Corp.'s video subscriber losses doubled in the third quarter from the preceding quarter as it lost customers to telecom companies offering bundled video-on-demand services.
Cablevision, TV, television, subscriber
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2014-16-06
Thursday, 06 Nov 2014 11:16 AM
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