Cablevision Systems Corporation Reports Second Quarter 2008 Results

Thursday, July 31st, 2008 
Cablevision Systems logo

BETHPAGE, NY — Cablevision Systems Corporation (NYSE:CVC) today reported financial results for the second quarter ended June 30, 2008.

Cable Television

Cable Television second quarter 2008 net revenues increased 9.0% to $1.242 billion, AOCF rose 12.9% to $497.7 million and operating income increased 30.3% to $284.5 million, each compared to the prior year period. The increases in net revenue, AOCF and operating income were principally driven by the growth in digital video, high-speed data, and voice customers as well as higher rates reflected in second quarter 2008 results.

The second quarter 2008 results reflect:

  • Basic video customers up 7,000 from March 2008 and down 7,000 or 0.2% from June 2007
  • Customer Relationships up 11,000 or 0.3% from March 2008 and 19,000 or 0.6% from June 2007
  • iO: Interactive Optimum digital video customers up 120,000 or 4.5% from March 2008 and 239,000 or 9.4% from June 2007
  • Optimum Online high-speed data customers up 52,000 or 2.2% from March 2008 and 227,000 or 10.5% from June 2007
  • Optimum Voice customers up 81,000 or 4.8% from March 2008 and 367,000 or 26.2% from June 2007
  • Revenue Generating Units up 260,000 or 2.6% from March 2008 and 826,000 or 8.9% from June 2007
  • Cable Television RPS of $132.29, up $2.73 or 2.1% from the first quarter of 2008 and up $11.28 or 9.3% from the second quarter of 2007
                               June 30,   March 31,   June 30,
(in thousands)                     2008        2008       2007
                               --------   ---------   --------
Basic Video Customers             3,132       3,125      3,139
iO Digital Video Customers        2,789       2,669      2,550

More: Earnings Release