Cablevision Continues to Lose Subscribers, But Revenue Rises -- Update

By Michael Calia 

Cablevision Systems Corp. posted another decrease in subscribers during its most recent quarter, although its revenue grew on higher revenue per customer and growth in advertising.

The results were in line with analysts' expectations.

Cablevision on Wednesday said its total customers--businesses or households that subscribe to at least one service--fell by 2.2% year over year to 3.1 million as of Dec. 31. Video and high-speed data customer numbers both declined for the year.

Analysts watching the industry have said Cablevision's prospects could be looking up if the deal between Comcast Corp. and Time Warner Cable--which is in the midst of a regulatory review--were to fall through. If authorities reject that deal, Cablevision could eventually be an acquisition target, a Wunderlich Securities analyst said Tuesday.

For the quarter ended Dec. 31, Cablevision posted earnings of $56 million, or 20 cents a share, up from $51.8 million, or 19 cents a share, a year earlier.

Revenue rose 3% to $1.63 billion.

Analysts had projected 19 cents a share in profit and $1.63 billion in revenue, according to Thomson Reuters.

Cable advertising revenue rose 9% from the year-ago period. Net revenue from cable rose 3.1% to $1.45 billion.

Average monthly cable revenue per customer increased 5.3%.

Write to Michael Calia at [e-mail]

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