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 Send to email | Cable On A Roll: Cablevision Posts Blowout Q2, Beats Expectations (CVC) in VZCMCSATCVC |  By Silicon
el 31-Jul-2008 |
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 Another strong Q2 from a major cable operator: The Dolans' Cablevision (CVC) beat analysts' sales, profit, and subscriber estimates, showing no weakness from Verizon's increasing FiOS presence. Shares are trading up 11.2% to $23.63.
Following up on the cable vs. telco broadband trend we've seen so far this quarter: Cablevision continued to show strength signing up customers for broadband Internet service. The cable company signed up 52,000 net new broadband subscribers in Q2, better than the 48,000 analysts polled by Reuters expected, nearly as good as the 54,000 net new subs that much larger Verizon (VZ) reported this week, and better than the 46,000 net new subs that much, much larger AT&T (T) posted last week.
This supports our thesis that cable is stealing broadband market share from phone companies. Cablevision's report is even more impressive given its substantial overlap with Verizon's FiOS, one of the only telco broadband offerings that's as fast or faster than cable Internet.
Cablevision's cable TV business also did well: The company added 7,000 net new basic video subscribers, beating analysts' expected loss of 5,000 subscribers, and added 120,000 net new digital TV subscribers, better than the 32,500 analysts expected. And Cablevision added 81,000 net digital phone subscribers, also beating analysts' expcted 76,000.
Overall, Cablevision posted $1.71 billion in Q2 revenue, beating the Street's $1.68 billion estimate. Income from continuing operations came in at 34 cents per share, down from 43 cents per share during Q2 2007, but handily beating analysts' 13 cents per share estimate.
See Also:
Comcast Q2 Sales Beat Estimates, But Profits Miss In "Challenging Economic Environment" (CMCSA)
Can Verizon Sell FiOS Without Giving Away Free TVs?
The End Of DSL? AT&T, Verizon Show Weak Broadband Growth. Good News For Comcast, Cable?
Verizon Gets NYC Cable License For FiOS: Look Out, Time Warner, Cablevision
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| Qualcomm Beats Expectations, Raises Guidance (QCOM) | | A strong Q1 for Qualcomm(QCOM): The company beat expectations for revenues and earnings, and raised guidance for the year. The street isn't overwhelmed, though, and the stock is down 2.6% in the aftermarket. We'll hazard a couple guesses as to why: QCOM gives out conservative guidance, and investors wanted much more than what they got; revenues are increasing faster than earnings; concern about [..] Read complete article | | Published 23-Apr-2008 by Silicon in QCOM
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