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Cablevision Beats Estimates, As Profits, Revenues Rise
PaidContent Nov 03 09
The third quarter is usually Cablevision’s weakest, but the company’s numbers actually out turned out pretty strong and even beat analysts’ estimates. The Bethpage, Long Island cable operator, says it will have spun off its Madison Square Garden operations by year-end, saw net income rise to $98.4 mllion from $31.4 million. In its primary New York DMA, Cablevision (NYSE: CVC) is fending off a strong challenge from Verizon (NYSE: VZ) FiOS.
Earlier, the AP cited Collins Stewart analyst Thomas Eagan’s forecast that Cablevision would lose 20,000 basic subscribers, but add 12,000 digital cable customers and 12,000 high-speed Internet clients. Full story...
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