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 michael.calia@wsj.com
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