Cablevision Continues to Lose Subscribers, But Revenue Rises

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.

The company said its total customers--businesses or households that subscribe to at least one service--fell by 2.2% to 3.1 million as of Dec. 31. Video and high-speed data customer numbers both declined.

Analysts watching the industry have said that 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% compared with the year-ago period. Net revenues 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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