Cablevision Loses Video Ground, High-Speed Orders Up

While Cablevision Systems Corp. lost more ground for its video subscribers in the second quarter, it mostly made up for it with new high-speed data consumers.

Cablevision lost 16,000 video customers, which are now totaling 2.6 million. High-speed customers continue to grow, adding 14,000 to total 2.8 million. Voice customers slipped 7,000 to total 2.2 million. Cablevision says total customer relationships are now up 5,000 to total 3.117 million.

By way of comparison, Cablevision lost 28,000 video customers and 14,000 voice customers by the end the first quarter of 2015. High-speed internet customers were up 7,000.

In the second quarter of this year, Cablevision improved the average monthly revenue from its customers -- up 3.8% to $158.52 per month.

Revenue from Newsday, News 12 Networks and Cablevision Media Sales Corp. was 3.7% lower to $91.3 million. Most of this came from lower advertising revenue at Newsday. There was an increase in advertising revenue at News 12 Networks.

Overall, revenues inched up 1.6% to $1.6 billion. Second-quarter net income of $75.6 million was down from $94.2 million from the year-ago period.

Midday trading had Cablevision’s stock down 2% to $26.00.



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