Cable One continues to position itself as a tier 2 model for cable operators looking to move away from video and emphasize high-speed internet services.
The Phoenix-based MSO lost another 30,277 video customers in the second quarter and only has 293,237 left.
But total Q2 revenue was up 6.4% year over year to $285.7 million. (The figure is a still-impressive 3.9% increase when the acquisition of Clearwave is factored out.) Residential broadband revenue increased by 8.5% to $132.82 million, amid customer additions of 20,393.
With Cable One up-selling more than half of its customers to take more than the 100 Mbps base-tier speed, average revenue per user was up 4.9% year over year to $71.80.
Meanwhile, revenue from business services increased to $49.8 million.
MoffettNathanon analyst Craig Moffett noted that almost 50%, Cable One margins are the highest in the cable industry. “We suspect they will keep climbing higher,” he said.
As for video, Cable One, which now operates under the consumer-facing brand Sparklight, is mulling a partnership with a virtual MVPD, according to Light Reading.