Cablevision Profits Soar Despite Losing 21,000 Customers
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- August 5, 2014
Tens of thousands of internet users unsubscribed from Cablevision in the last three months, but the broadband service provider still delivered solid earnings because it was charging each customer more. Profit came in at 34 cents a share. That's twice of much as the expectations. Revenue climbed 4% to over $1.6 billion, which is slightly better than estimates. 21,000 or 1% of Cablevision's customers dropped the services, which include video, high-speed data and voice. But, Cablevision charged each customer about 6% more and sold more ads. A Cablevision spokesperson said, "Rate increases, disciplined pricing strategies and higher advertising revenue partially offset a decline in customers."
