New subscriber additions boosted Q2 profits for Cablevision Systems Corporation (NYSE:CVC) and beat analyst estimates. Net earnings came in at $63.5 million (24 cents a share), compared to $87.8 million (32 cents a share) in the year ago period. Expectations by analysts were in the region of 19 cents on average. However, last year, spun-off unit AMC Networks Inc (NASDAQ:AMCX) contributed $18.6 million to profits, or 6 cents per share. Revenues were $1.7 billion, in line with street expectations, while average revenue per user climbed 1.7 percent to $155.12. The company added 25,000 new Internet customers and 23,000 voice subscribers in the…
This content is exclusively for paying members of Hedge Fund Alpha
Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha
Don’t have an account?
Subscribe now and get 7 days free!
