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Tuesday, November 03, 2009
Cablevision Triples Profits
By Darryl R. Isherwood
FOXBusiness
Cablevision Systems Corp. (CVC) easily beat analysts’ forecasts for its third quarter profits, citing improved results at its cable systems and networks.
The company reported net income of $98.9 million, or 33 cents per share, compared with $30.9 million, or 10 cents, last year.
Revenue jumped to $1.84 billion from $1.75 billion in third quarter of 2008.
Revenues from cable television rose 4.5% over third quarter 2008, to $1.3 billion. Revenue from Cablevision’s Rainbow Media cable networks rose 3.5% over last year, to $260.1 million. Operating income rose 83% to $53.5 million.
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