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Broadband Gains Drive Mediacom Q1

Revenue increased by 4.1% and adjusted operating income before depreciation and amortization rose a healthy 8.9% at Mediacom Communications in Q1, driven by continued gains in its broadband service and steadily declining capital expenditures.

Mediacom ended the quarter with revenue of $497.9 million and AOIBDA of $195.5 million. The mid-sized cable operator added 24,000 high-speed internet customers in the period, up from 19,000 additions in the prior year. Video customers declined by 12,000 in the period, three times the 4,000 customers it lost in Q1 2018.

Capital expenditures dipped 8.9% to $72.7 million from $79.8 million in the prior year. Free cash flow was up 31.5% to $98.2 million from $74.7 million in Q1 2018.