Mediacom Communications reported mixed results for the fourth quarter ended Dec. 31, with video subscriber losses up and broadband customer increases slowing, while revenue and cash flow continued to rise at a healthy clip.
Revenue for the quarter increased 5.2% to $496.4 million, while adjusted operating income before interest and depreciation (AOIBDA), rose 6.6% to $196.2 million. Despite those gains, Mediacom lost 17,000 video customers in the period, compared to a loss of 2,000 in Q4 2017. Broadband subscribers increased by 4,000 in the quarter, about one-third of the 15,000-subscriber gain in the same period in 2017.
Average monthly revenue (ARPU) increased 2% in the quarter to $62.26 from $61.04 per month per primary service unit. ARPU per customer relationship increased 5.3% from $115.42 per month to $121.59 per month in the most recent quarter.
For the full year, revenue was up 4.2% to $1.956 billion, and AOIBDA rose 4.6% to $745 million. Mediacom shed 45,000 video customers for the full year, an increase over the 14,000 it lost in the same period in the prior year. But broadband additions were up for the full year, numbering 55,000 at the end of 2018, compared to an increase of 47,000 in the prior year.
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