Mediacom posted a 4.4 percent rise in second quarter revenue to $450.8 million, driven by growth of high-speed data and business services.
Across its two operating units, the Blooming Grove, N.Y.-based mid-sized cable operator added 14,000 broadband customers in the second quarter and has grown its HSD user base by 7.3 percent over the last 12 months. Revenue from broadband services rose 12.6 percent in the quarter to $149.4 million.
Revenue from business services rose 10.6 percent to $57.4 million during the three-month period.
Conversely, Mediacom lost 11,000 pay-TV subscribers during the second quarter, a rate of decline that is largely flat with the 12,000 it lost in the second quarter of 2015. The company's video user base has declined 4.2 percent to 842,000 in one year.
Revenue from video services declined 0.4 percent year over year to $203.3 million.
The MSO's capital expenditures were $86.4 million, compared to $76.9 million in the prior year period. Operating income before taxes and depreciation increased 4 percent to $172.7 million.
Mediacom is not a publicly traded company, but reports earnings to its bond issuers.
Medicom is the fifth largest cable operator in the U.S. serving over 1.3 million customers in smaller markets, primarily in the Midwest and Southeast through its wholly-owned subsidiaries, Mediacom Broadband LLC and Mediacom LLC.
For more:
- read this Mediacom earnings release
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