While Cablevision (NYSE: CVC) investors watch and wait for the inevitable close of Altice NV's $17.7 billion purchase of the company, they can take heart in the performance of another recent Altice cable acquisition.
Altice reported earlier this week that Suddenlink Communications produced a 21 percent increase in operating profit to $276 million in the first quarter, its first full quarter under Altice control. Suddenlink, which was purchased last year by Altice for $9.1 billion, also saw a 9 percent spike in quarterly revenue to $644 million.
The operator lost 8,000 video customers in the first quarter, but gained 30,000 broadband subscribers and grew customer relationships by 22,000 overall.
"We are excited about Suddenlink's performance under our first full quarter of ownership and its growth prospects," said CEO Dexter Goei, in a statement. "We look forward to successfully concluding the Cablevision regulatory approval process and closing the acquisition in the second quarter."
For its part, Altice reported a 2.7 percent decline in quarterly revenue to $4.9 billion, but it said EBITDA rose nearly 1 percent to $1.8 billion.
For more:
- read this Altice earnings release
- read this Hollywood Reporter story
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