Cablevision Systems Corp. (CVC) reported fourth quarter net income of $0.45 per share Thursday morning, up from $0.22 per share a year ago. The consensus estimate was for EPS of $0.09. Cable Television net revenues decreased 2.2 percent to $1.47 billion, mainly due to the impact of Superstorm Sandy and as growth of high-speed data and voice customers were more than offset by fewer video customers than last year.
Cablevision Systems gapped open lower Thursday and has been declining for the majority of early trade. Shares are now down 1.52 at $13.95 on above average volume. The stock has dropped to nearly a 3-month low.
by RTT Staff Writer
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