Ongoing growth in voice and data helped boost Cablevision's Q4 performance as full year cable revenues were up 5.2 percent to $5.432 billion.
As suspected, Cablevision saw some minor erosion (lost 2,800 basic subscribers) in its traditional video business from aggressive rivals, including Verizon and satellite players--down from 4,000 subscribers it lost last year. On the digital side, Cablevision added 4,800 new subscribers.
But the more impressive growth drivers at Cablevision were telecom services. Cablevision's Q4 09 net telecom revenues were up 5.5 percent to $1.385 billion, while AOCF grew 11.1 percent to $578.6 million and operating income increased 22.7 percent to $364.6 million. Contributing to this growth trend was the addition of 45,700 Optimum Online Internet customers and 51,400 Optimum Voice phone customers.
Also worth noting was the growth of Cablevision's Optimum Lightpath business services division. Buoyed by the ongoing expansion of its Ethernet business, Optimum Lightpath's revenues increased 1.7 percent to $66.3 million.
For more:
- see the release here (PDF)
- Reuters has this article
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