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Cablevision Holds Tough Against FiOS
Beats Wall Street Estimates in User Additions
by Karl Bode 09:09AM Friday May 04 2012
Cablevision's latest quarterly earnings bucked one significant trend in the cable industry -- they actually added video subscribers. The cable operator added 7,400 video subscribers, 41,800 broadband customers, and 42,400 VoIP customers during the quarter. Those additions beat most Wall Street analysts and suggest that Cablevision's still holding tough against Verizon's FiOS incursions into their New York City suburban turf. Cablevision had to get rather aggressive in pricing to get these numbers, offering users a $70 introductory price on their triple play in order to undercut Verizon pricing. Cablevision told analysts and the press their CAPEX for 2012 would be "significantly higher" as the company significantly expands their Wi-Fi network and finishes up their all-digital conversion.