Tags: video | Internet | Cablevision | subscribers

Cablevision Sheds Video, Internet Subscribers

Friday, 08 Nov 2013 09:40 AM

Cablevision Systems Corp. lost more video subscribers than expected in the third quarter, saw its cash flow fall and also showed a surprise loss of broadband subscribers.

Net income was $294 million, or $1.10 per share, compared with a loss of $3.8 million or 1 cent per share a year before.

Cablevision's most closely watched metric, its adjusted operating cash flow, fell 4 percent to $441.1 million.

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Cablevision said it lost 37,000 net video subscribers, which was worse than the loss of 17,200 customers Wall Street was expecting, according to StreetAccount. It also lost 13,000 high-speed data customers, when analysts were expecting it to gain 6,700.

The cable service controlled by New York's Dolan family faces increased competition from Verizon Communications Inc.'s FiOs service and like its cable rivals, it deals with rising prices that media companies charge to carry their networks.

 

© 2017 Thomson/Reuters. All rights reserved.

   
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Cablevision Systems Corp. lost more video subscribers than expected in the third quarter, saw its cash flow fall and also showed a surprise loss of broadband subscribers.
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2013-40-08
Friday, 08 Nov 2013 09:40 AM
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