Mediacom grows revenue 4% in Q1 on surging broadband, business services sectors
Mediacom continued to post strong revenue performances in the areas of high-speed internet and business services, with overall revenue increasing by 4% in the first quarter to $462.7 million. High-speed internet revenue spiked 12.9% in the quarter across the New York-based mid-sized cable operator’s two divisions, with its broadband customer base increasing by 17,000 during the period, compared to 29,000 in the first quarter of 2016. Revenue from business services was up 7.6% to nearly $60 million.
HSI and business services also drove a 5.2% revenue increase for Mediacom in the fourth quarter.
Like most small and mid-sized cable companies, Mediacom continues to see video service fade in relevance to its bottom line. The company shed 3,000 more pay-TV users in the first quarter, even though revenue remained largely flat in video services at nearly $200 million. Mediacom ended Q1 with around 832,000 pay-TV users, compared to 853,000 at the end of the first quarter of last year.
Revenue from providing residential landline telephone service was down 1.9% year over year, with telephone customers increasing by 15,000 in the first quarter. Advertising revenue was down nearly 29%, with the negative comparison to 2016, an election year. Mediacom is not a publicly traded company, reporting earnings conditionally to creditors.
The company doesn’t conduct a conference call with analysts.
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- ^ Mediacom drives 5.2% revenue bump on broadband, biz services (www.fiercecable.com)