Mid-sized cable operator Mediacom Communications added 9,000 high-speed internet customers in the third quarter, offsetting a loss of 6,000 video subscribers and helping to fuel a nearly 4% revenue gain in the period.
Mediacom grew revenue to $471.6 million, or about 3.8%. The video losses in the seasonally weak period were an improvement over the prior year, when Mediacom shed about 8,000 video customers. The operator also added 22,000 phone customers in the period.
RELATED: Mediacom Refinances Bank Facilities
Operating income before interest, depreciation and amortization (OIBDA, a measure of cash flow) was up 2.3% to $173 million in the quarter, and overall customer relationships rose 1.4% to 1.4 million. Mediacom ended the period with about 823,000 video subscribers.