Suddenlink’s revenue increases 6.5% in Q2
Suddenlink Communications posted revenue of $513.3 million in the recently completed second quarter, which was a 6.5 percent increase from a year ago.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the second quarter were $198.2 million, which was a 10.5 increase compared to the second quarter of the prior year.
Suddenlink, the nation’s seventh-largest cable operator, lost 20,100 basic video subscribers in the second quarter, compared to a loss of 24,400 a year ago, which was a trend that Comcast also reported in its earnings yesterday.
While Comcast was able to add data subscribers for the seventh consecutive quarter, Suddenlink lost 3,200, which was still an improvement over the 4,600 data subs it lost in the same quarter a year ago.
On the telephony front, Suddenlink added 9,500 new subscribers after bringing 12,200 into the fold last year.
Suddenlink’s commercial revenues increased 6.4 percent in the second quarter, while ad revenues were up 11.4 percent year-over-year.
Last month, Canadian Pension Plan Investment Board (CPPIB), BC Partners, and Suddenlink President and CEO Jerry Kent – along with members of his management team – announced they had bought Suddenlink for $6.6 billion in a deal that is slated to close by the fourth quarter.
"With our customer-focused strategy, we achieved solid results in the quarter, including pro forma revenue growth of 6.5 percent, EBITDA growth of 10.5 percent and ARPU growth of 10.6 percent," Kent said. "We're in a great position to continue growing this company and are excited about the opportunity to do so with new equity partners."