WideOpenWest, Inc. (“WOW!”) (NYSE: WOW), a fully integrated provider of residential and commercial high-speed data, video and telephony services to customers in the United States, has announced financial and operating results for the first quarter ended March 31, 2018, the company said.
For the quarter ended March 31, 2018, WOW! reported Total Revenue of USD 285.5 million, down USD 14.5 million, or 4.8%, compared to the quarter ended March 31, 2017. The company reported first quarter 2018 Net Loss of USD (202.7) million, including the impact of USD 256.4 million impairment loss of intangibles and goodwill, and Adjusted EBITDA of USD 96.3 million.
On a reported basis, for the quarter ended March 31, 2018, Total Revenue decreased 4.8% compared to the quarter ended March 31, 2017. Total Revenue Including Acquisitions and Dispositions decreased 3.1% to USD 285.5 million compared to the quarter ended March 31, 2017, which was driven primarily by Video and Telephony RGU losses, partially offset by increases in ARPU and Business Services Subscription Revenue growth.
On January 1, 2018, the company prospectively adopted the FASB´s new revenue recognition standard. There are a number of small adjustments in the quarter related to adoption of the standard, both in revenue and expenses. Year-over-year comparisons of the company´s revenue components and Adjusted EBITDA have been impacted by the adoption of these standards.
WOW! is one of the nation´s providers of high-speed Internet, cable TV and phone serving communities in the US Our vision is connecting people to their world through the WOW! experience: reliable, easy, and pleasantly surprising, every time. For more information, visit www.wowway.com.