Cable earnings reports are becoming like broken vinyl records: they're repeating themselves. The latest to join the revenues up, basic subs down, broadband subs up storyline is Cequel Communications (aka Suddenlink) which said that fourth quarter revenues grew 8.7 percent to $434.4 million compared to the same period a year ago and annual revenues were up to $1.69 billion, 7.7 percent more than in 2009.
Of course, Suddenlink also reported that it lost 9,800 basic video customers during the quarter and 28,500 of their ilk during the entire year. This was offset by the addition of 12,800 residential high-speed data customers during the quarter (ominously down from 18,000 a year ago), 800 commercial customers and 13,000 residential phone customers (down from 27,200 a year ago.
Suddenlink Chairman-CEO Jerry Kent called 2010 a "great success" and attributed it, in part to an "unyielding focus on customer service."
- see this news release
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