Q2: Mixed Bag for Cable MSOs

摘要

After positive net basic sub adds in Q1, cable MSOs' loss of 324K basic subs in Q2 (vs. -126K in 2003) took investors by surprise and overshadowed double-digit revenue and cash-flow growth, as well as gains in the group's digital and high-speed data penetrations. While MSOs are expected to lose subs during Q2 as snowbirds migrate north and college students break for the summer, the depth of the slide for nine out of ten public operators seemed particularly alarming vs. satellite's mammoth 749K net gain.