Mediacom holds steady in second quarter; loses basic subs

Mediacom Communications (Nasdaq: MCCC) held relatively steady financially during a slow second quarter where revenues climbed by 3.4 percent to $377 million, adjusted operating information (OIBIDA) went up 2.1 percent to $139.7 million and operating income was a relatively flat $77.2 million the company announced today.

The ubiquitous revenue generating units (number of services per individual subscriber) were up 15,000 in the quarter based on net gains of 10,000 high-speed data customers; 17,000 phone customers; and 6,000 digital customers. Overall, as with most cable companies, Mediacom, the nation's eighth largest MSO, lost subs 18,000 subs during the period compared with a loss of 15,000 a year earlier.

Advertising revenues did show a spark "largely a result of a rebound in automotive and political advertising sales" with a 14 percent increase.

For more:
- see this news release

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