Cox Posts Solid 2Q

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Cox Communications Inc. reported strong revenue and cash-flow growth in the second quarter, but basic subscribers were down by 46,000 as students and snow birds returned to their summer residences.

Revenue was up 11% in the period to $1.8 billion and operating cash flow rose 12% to $692.1 million. Digital subscribers rose by 48,768, while high-speed-Internet customers increased by 97,779. Cox also added 89,023 digital-telephone customers in the period.

Cox said earlier this week that it would extend its telephone product to five additional markets this year.

The MSO added that 3 million customers now subscribe to two or more Cox services.

“With all of our sales channels focused on increasing the number of bundled customers, we now report 13.2 million RGUs [revenue-generating units], which translates into higher revenues that fuel greater free cash flow,” CEO Jim Robbins said in a prepared statement.

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