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Cable One, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports total revenues of $393.6 million for the quarter, a decrease from $420.3 million in the same quarter the previous year. The decline is attributed to decreased residential data and video service revenues.
Residential data service revenues fell by 6.9% to $230.4 million, primarily due to a decrease in average revenue per user (ARPU) following targeted pricing strategies.
Residential video service revenues decreased by 13.9% to $53.7 million, driven by a reduction in video subscribers.
Business data revenues increased by 2.9% to $57.3 million, reflecting growth in business data subscribers.
Operating expenses, excluding depreciation and amortization, were $104.6 million, a decrease from $109.7 million in the prior year, due to lower programming and franchise costs.
Selling, general, and administrative expenses decreased to $88.4 million from $92.7 million, primarily due to reduced labor and compensation-related costs.
Net income for the quarter was $44.2 million, up from $30.3 million in the previous year. The increase is due to lower interest expenses and other income gains.
Cash flows from operating activities were $176.2 million, a slight decrease from $180.2 million in the previous year.
The company reported Adjusted EBITDA of $213.6 million, down from $230.0 million in the previous year, reflecting the decline in total revenues.
Cable One continues to focus on expanding its data services and managing costs amidst competitive pressures in the telecommunications industry.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Cable One Inc. quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.