WideOpenWest reported a net loss in its latest quarterly report but touted a stronger performance by its high-speed internet service.
The Colorado-based cable operator said the $2.1 million loss in the third quarter was sharply lower than the $20.3 million loss reported in the previous third quarter. The company’s $297.8 million in quarterly revenue was down 4.3 percent over that span, but adjusted earnings were up 3 percent.
Officials also noted that the 2,400 high-speed data subscribers added in the latest quarter represented an increase of 16,400 compared to the same window last year, and the company said that internet-related subscription revenue jumped by nearly 15 percent year-over-year.
WideOpenWest’s overall subscriptions, however, essentially remained flat compared to its July financial results, which the company attributed to price competition and the impact of Hurricane Irma on the Gulf Coast.
The company also highlighted more than 40,000 homes reached by its “edge-out” projects as of Sept. 30, as well as more than 12,000 new customers added through those nodes.
“The continued success and execution by our teams in growing business services subscription revenues and expanding our edge-out homes passed was well represented during the quarter,” CEO Steven Cochran said in a statement. “Our 2016 edge-out nodes have achieved over 30 percent penetration with just over one year of activity in these markets.”