Cable One Not Planning Mobile Offering Anytime Soon
Don't expect Cable One to get into mobile service anytime soon, Todd Koetje, chief financial officer, said in an analyst call last week as the company announced Q3 financial results. He said it's monitoring wireless offerings by other cable operators,…
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"but nothing right now that says, economically or from a customer demand perspective, that that's a product we have to have." CEO Julia Laulis said the company is "navigating the final stages of decline" of its video offering and is "preparing for an environment without a video business." She didn't say when it expects that to happen. The company said average customer data demand is 646 Gb a month, with more than 20% of residential subscribers exceeding 1 Tb of usage a month, while revenues for the quarter were $420.3 million, down $4.4 million from the same quarter a year ago. Koetje said the slide was due to a continual decline in lower-margin residential subscribers and business video revenues. Laulis said Cable One this fall rolled out a 100 Mbps/$25 month broadband offer aimed at more cost-conscious subscribers. Cable One said it ended the quarter with 959,000 residential primary service units, down about 7,000 year over year; 141,000 video PSUs, down 50,000; and 82,000 voice PSUs, down 13,000.