Basic Video Subs Flat at Cablevision - Broadcasting & Cable

Basic Video Subs Flat at Cablevision

AOCF falls 7.2% in Q2
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Basic video subscribers were flat at 3.2 million in the
second quarter at Cablevision Systems, but cash flow growth stumbled into
negative territory, as the Bethpage, N.Y. MSO continues to struggle with its
own success.

Revenue for the period was up 0.5% to $1.7 billion, but adjusted
operating cash flow fell 7.2% to $532.4 million and operating income plunged
16.7% to $26.3 million.

The declines were slightly below analysts' consensus
estimates which ranged from 1.1% revenue growth to a 5% decline in AOCF.
Cablevision fared better on basic video subscribers, beating consensus
estimates of a decline of 8,000 customers in the period.

But the MSO did manage to tally better than expected growth
on the high-speed data and voice side - gaining 25,000 and 23,000 customers,
respectively - ahead of consensus estimates of gains of 19,000 high-speed
Internet and 22,000 voice customers.

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