The bad, and the ugly.. - Total revenues for the second quarter of 2024 decreased to $394.5 million from $424 million, primarily due to lower ARPU in the residential data customer base.
- Residential data revenues decreased by 6.7% year-over-year, driven by a 6.9% decrease in ARPU due to targeted pricing and product offerings.
- The company faced challenges from the ending of the Affordable Connectivity Program, resulting in a net decrease of about 4,000 customers.
- Selling, general, and administrative expenses increased due to nonrecurring severance costs and continued investment in long-term transformative operating platforms.
- Cable One has a significant fiber overlap in its markets, with 42% of its markets overbuilt with fiber, posing competitive challenges.