Cable One, Inc. reported a significant decline in financial performance for the second quarter of 2025, with revenues totaling $381.1 million, down 3.4% from $394.5 million in the same period last year. For the first half of 2025, revenues decreased by 4.6% to $761.7 million compared to $798.8 million in the first half of 2024. The company experienced a net loss of $438.0 million for the quarter, a stark contrast to a net income of $38.2 million in the prior year, primarily due to non-cash asset impairments totaling $586.0 million, which included $497.2 million related to franchise agreements and $88.8 million for goodwill.
In terms of operational metrics, Cable One's customer base saw a decline, with approximately 1.1 million residential and business customers as of June 30, 2025, down from 1.3 million a year earlier. The company reported a decrease in residential data subscribers by 31,200, while residential video subscribers fell by 22,500, reflecting a broader trend of customers shifting to over-the-top services. Business data revenues showed slight growth, increasing by 1.2% year-over-year, indicating some resilience in that segment.
Strategically, Cable One has focused on enhancing its infrastructure and expanding its service offerings. The company has rolled out multi-Gigabit download data services to over 40% of its markets and is actively deploying DOCSIS 4.0 technology to improve network capacity. Despite the challenges in the video segment, the company continues to prioritize its higher-margin residential and business data services, which accounted for 59.7% and 15.1% of total revenues, respectively, in the first half of 2025.
Looking ahead, Cable One has suspended its quarterly cash dividend, which is expected to save approximately $67 million annually. This decision is part of a broader strategy to allocate resources towards debt repayment and ongoing investments in growth initiatives. The company remains committed to its capital allocation strategy, which includes potential acquisitions and organic growth in rural markets. However, the outlook remains cautious due to ongoing competitive pressures and the need for continued investment in infrastructure to meet customer demands.
About Cable One, Inc.
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