Insight Reports Q2 Results

Jul 30, 2004  •  Post A Comment

Cable operator Insight Communications on Friday reported a narrowed second-quarter loss, as basic cable rate increases, along with increased demand for advanced services such as high-speed data drove growth during the period.

The company’s loss was $7.5 million, or 13 cents a share, compared with red ink of $11.9 million, or 20 cents a share. Revenue rose 12 percent to $250.6 million.

Fueling the improved results was a 42 percent year-over-year increase in high-speed data customers, which at the end of the quarter totaled 273,000. That counteracted the effect of a seasonal 15,900 decline in basic-cable subscribers and a 200-subscriber decline in digital cable customers, which the company blamed more on how Insight sells the product than on customer dissatisfaction.