Tags: Cablevision | Profit | Rises | Web | Subscribers

Cablevision's Profit Rises on Web Subscribers

Thursday, 04 Nov 2010 10:39 AM

Cablevision Systems Corp. posted a higher quarterly profit Thursday as it added more Internet and telephone customers.

Third-quarter net profit was $112.1 million, or 37 cents a share, compared with $98.9 million, or 33 cents a share, a year ago.
Revenue rose 5.6 percent to $1.81 billion.

Analysts had, on average, forecast profit of 41 cents a share on revenue of $1.79 billion, according to Thomson Reuters I/B/E/S.

Cablevision added 9,600 Internet subscribers and 9,300 phone subscribers during the quarter. But it lost 24,500 basic video customers.

Analysts at Bernstein Research had forecast Internet additions of 12,000 subscribers and phone additions of 18,000 subscribers.

Bernstein had also expected Cablevision to lose just 14,000 basic video customers.

Cablevision had been locked in a programming fee dispute with News Corp., which saw the blackout of Fox local stations for 15 days until being restored on Oct 30.

© 2017 Thomson/Reuters. All rights reserved.

 
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Cablevision Systems Corp. posted a higher quarterly profit Thursday as it added more Internet and telephone customers. Third-quarter net profit was $112.1 million, or 37 cents a share, compared with $98.9 million, or 33 cents a share, a year ago. Revenue rose 5.6 percent...
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2010-39-04
Thursday, 04 Nov 2010 10:39 AM
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