Cablevision Systems reported mixed second-quarter results Tuesday August 5, with financial metrics beating analysts' expectations but subscriber losses finishing below estimates. Overall revenue rose 3.7% and adjusted operating cash flow increased 11%.
At its cable operations, revenue was up 3.7% and AOCF rose 6.2%. But subscriber losses continued to plague the New York metro area operator, which has the greatest exposure to Verizon Communications' FiOS than any other cable company.
Cablevision said it lost 28,000 basic video customers in the period. That is up from the 20,000 lost in the second quarter last year and more than the 18,000 most analysts' expected them to lose.
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