Cox Communications’ cable operations turned in another strong quarter: a dip in basic subscriber counts didn't put a dent in the company's financial growth.
For the three months ended June, Cox cable systems increased revenue 11% to $1.8 billion compared to the same period last year. Operating cash flow rose 12% to $692.1 million.
The company lost 46,500 basic subscribers, which is typical in summer months when college students go home and retirees vacate their winter homes in the South. At the same time, Cox added 48,800 digital subscribers pushing penetration to 40.6% from 39% a year ago. The company also added 89,000 telephone customers, increasing penetration to 22% from 20.8% a year ago.
Cox went private last December, but continues to disclose financial results because it has publicly traded bonds.