Tags: US | Earns | Cablevision

Cablevision Turns Profit by Luring More Customers

Thursday, 25 Feb 2010 10:03 AM

Cablevision is reporting a profit for the fourth quarter as more customers signed up for its digital cable TV, phone and Internet services.

The nation's fifth-largest cable TV operator said Thursday it earned $78.4 million, or 26 cents per share. In the same quarter a year earlier it lost $323.2 million, or $1.11 per share, when it booked a $400 million charge to write down the value of its Newsday newspaper acquisition.

Revenue in the most recent quarter rose 5 percent to $2.14 billion.

The Bethpage, N.Y., company said all of its businesses strengthened, except for Newsday. Newspaper revenue fell nearly 16 percent, mainly because of drops in advertising.

In contrast, Cablevision's cable channels saw a 13 percent increase in advertising revenue.

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Cablevision is reporting a profit for the fourth quarter as more customers signed up for its digital cable TV, phone and Internet services.The nation's fifth-largest cable TV operator said Thursday it earned $78.4 million, or 26 cents per share. In the same quarter a year...
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2010-03-25
Thursday, 25 Feb 2010 10:03 AM
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