Cable One lost 6,237 video subscribers during the fourth quarter, while gaining 2,939 high-speed Internet customers and 3,462 phone customers, parent The Washington Post Co. reported.
Phoenix-based Cable One ended the fourth quarter with 621,423 basic video customers, down 26,990 compared to this time last year. It has added 26,945 phone customers since the fourth quarter of 2011, and now counts 179,989 VoIP subscribers.
Cable One signed 25,680 high-speed Internet subscribers in the last year. It is posting results similar to those of larger MSOs that have grown high-speed Internet and phone subscribers while losing basic video subscribers to DirecTV and other rivals.
The Washington Post Co. said its cable division generated $190.8 million in revenue in Q4, down slightly from the $191.3 million it posted in Q3. The company said growth in cable modem and phone customers was offset by promotional discounts and the drop in basic cable customers. Cable One generated $760.2 million in revenue in 2011, which was a slight increase from the $759.9 million in revenue it posted in Q4 20120.
Overall, The Washington Post Co. reported $116.2 million ($114.70 per share) in net income in Q4, down from $277.2 million ($31.04 per share) in net income in the fourth quarter of 2010.
For more:
- see the earnings release