New York-based cable operator Cablevision Systems reported profits of USD98.3 million in the second quarter of 2008 compared to USD317.4 million in the same quarter a year earlier. In 2007’s second quarter, Cablevision received USD183.9 million from the sale of a 50% interest in FSN New England. Total revenue in the three months ended 30 June 2008 increased 9% to USD1.71 billion, as revenue from its cable TV division (which includes high speed internet and phone services) also rose 9% to USD1.24 billion. Operating income increased to USD299.3 million from USD208.4 million in the same quarter twelve months previously.
Cablevision has reported its Optimum Voice digital voice-over-cable service, available exclusively to Optimum Online high speed internet customers, passed the two million phone lines in service milestone earlier this week. The product has attracted more than a third of the homes passed by Cablevision’s fibre-optic network and offers small and medium-sized business customers up to twelve lines of Optimum Voice, and residential customers up to four lines. The success of this offering has been impressive given Verizon now competes with its fibre-optic service in 30% of Cablevision’s markets.