Cablevision Records 3% Rev Hike, But Subscriber Loss

Cablevision Systems Corp. had modest growth for its fourth-quarter revenues, but continued to see erosion from its core video subscribers.

The big Long Island, NY-based cable company lost 34,000 video subscribers in the fourth-quarter of 2014 compared to the end of the third quarter, now totaling 2.68 million. Analysts were expecting to see a loss of 27,000. A year ago, Cablevision lost 18,000 during its fourth-quarter period.

Early-day trading of Cablevision’s stock was down 2.5% to $19.31.

Revenues climbed 3% to $1.63 billion, partly due to growing average monthly cable revenue (up 5.3% to $155.20) and higher advertising revenues (9% higher to $48 million). Net income improved to $56.1 million from $51.3 million.

Analysts say these Cablevision’s fourth-quarter results were mostly in line with expectations. Almost 90% of the company’s revenues come from its core cable business.

Cablevision’s high-speed data/broadband business rose by 4,000 subscribers from sequential quarter to quarter -- now at 2.76 million; voice (phone) subscribers dropped by 11,000 to 2.24 million.

Cablevision’s other businesses, including Newsday, News 12 networks, and Cablevision Media Sales Corp. slipped 0.6% to $96.4 million. News 12 Networks had increased advertising in the period; Newsday witnessed lower advertising revenue.

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