Cablevision Systems Corporation Reports Third Quarter 2008 Results
Thursday, November 6th, 2008BETHPAGE, NY — Cablevision Systems Corporation (NYSE:CVC) today reported financial results for the third quarter ended September 30, 2008.
Cable Television
Cable Television third quarter 2008 net revenues increased 9.8% to $1.247 billion, AOCF rose 13.6% to $489.7 million and operating income increased 32.9% to $281.2 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 third quarter 2008 results.
The third quarter 2008 results reflect:
- Basic video customers down 19,100 or 0.6% from June 2008 and down 9,900 or 0.3% from September 2007
- Customer Relationships down 13,500 or 0.4% from June 2008 and up 18,500 or 0.6% from September 2007
- iO: Interactive Optimum digital video customers up 25,100 or 0.9% from June 2008 and 228,800 or 8.8% from September 2007
- Optimum Online high-speed data customers up 31,600 or 1.3% from June 2008 and 207,700 or 9.4% from September 2007
- Optimum Voice customers up 58,000 or 3.3% from June 2008 and 334,700 or 22.5% from September 2007
- Revenue Generating Units up 95,600 or 0.9% from June 2008 and 761,200 or 8.1% from September 2007
- Cable Television RPS of $133.11, up $0.82 or 0.6% from the second quarter of 2008 and up $12.20 or 10.1% from the third quarter of 2007
Cable Television Revenue Generating Units (in thousands):
Sept 30, June 30, Sept 30, 2008 2008 2007 --------- --------- --------- Basic Video Customers 3,112 3,132 3,122 iO Digital Video Customers 2,814 2,789 2,585
More: Earnings Release
Latest News
- Movistar Plus+ to create real-time short-form sports video with WSC Sports
- SeaChange to instead be acquired by Enghouse
- Rogers to bring Comcast and Xfinity products to Canada
- OTTera partners with ThinkAnalytics on enhanced personalization
- Televisa selects Synamedia edge gateway and distribution platform
- X Corp confirms intention to launch app for Smart TVs