Tags: US | Earns | Cablevision

Cablevision's Net Falls 30 Percent on Higher Costs

Thursday, 05 Aug 2010 09:12 AM

Cablevision says its second-quarter profit fell by 30 percent as higher expenses and investment losses more than offset an increase in revenue.

Cablevision Systems Corp. says its video, Internet and phone revenue rose. But it says revenue at its Newsday newspaper fell 9.7 percent as advertising slumped.

The Bethpage, N.Y., company reported net income of $60.9 million, or 21 cents per share, in the quarter ended June 30. That's down from $87 million, or 30 cents per share, a year ago.

It says revenue rose 5.8 percent to $1.8 billion from $1.7 billion.

Analysts surveyed by Thomson Reuters were expecting earnings of 40 cents per share on revenue of $1.77 billion. The earnings estimates typically exclude one-time items.

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Cablevision says its second-quarter profit fell by 30 percent as higher expenses and investment losses more than offset an increase in revenue.Cablevision Systems Corp. says its video, Internet and phone revenue rose. But it says revenue at its Newsday newspaper fell 9.7...
US,Earns,Cablevision
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2010-12-05
Thursday, 05 Aug 2010 09:12 AM
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