The Media Drop: Cablevision posts revenue increase, net loss

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August 9, 2004

Cablevision posts revenue increase, net loss

Cablevision, the Bethpage, New York-based cable television provider, posted a net loss on Monday of $187.1 million for the second quarter of 2004, as compared to a $158.3 million gain for the same period a year ago. Most of the loss is attributed to one-time charges and losses from its satellite television operations. However, the company's press release states that cable televsion revenues increased 17% to $730.4 million while overall revenues jumped 25% to $1.2 billion as compared to the second quarter of 2003. Favorable revenues were primarily due to increases in subscribership to the Optimum Online high-speed Internet service, conversion to iO digital cable, and a 24% gain in overall advertising revenue over the prior year.

Posted by Tom at August 9, 2004 11:37 AM | TrackBack | IM This

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