Cable One drops video and phone subscribers in Q3 2012
Cable One lost 7,672 basic video subscribers and 1,448 telephone customers during the third quarter, the Washington Post Co. (NYSE: WPO), its parent company, reported Friday.
The Phoenix, Ariz.-based cable MSO managed to pick up 382 high-speed Internet subscribers. That was an improvement compared to the second quarter, when it lost 1,017 cable modem subscribers.
Cable One ended the quarter with 605,057 basic video, 462,808 high-speed Internet and 185,647 telephone subscribers. Despite the losses of voice subscribers during the third quarter, the MSO still has about 9,000 more voice customers than it did this time last year. And while it has lost more than 22,000 basic video subscribers in the last year, it has gained about 14,000 broadband customers during the same period.
Cable One generated $199.6 million in revenue during the third quarter, up 6 percent compared to the third quarter of 2011. Operating income at the cable unit increased 8 percent to $39.9 million.
Including its newspaper, TV and education assets, The Washington Post reported net income in the third quarter of $98.3 million ($12.64 per share), compared to a net loss of $6.2 million (82 cents per share) this time last year.
- see the earnings release
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