Cablevision (NYSE:CVC) reported on Thursday a deeper-than-expected 30% decline in second-quarter profits, but the cable provider’s revenue exceeded expectations from analysts on Wall Street.

The company said it earned $60.9 million, or 20 cents a share, last quarter, compared with a profit of $87 million, or 29 cents a share, in the year-earlier period. Analysts had been projecting EPS of 40 cents.

Revenue rose 5.8% to $1.8 billion last quarter, beating the Street’s view of $1.77 billion. Cablevision’s cable advertising revenue was up 26.7% and its telecom unit brought in $1.44 billion in revenue, compared with just $280.5 million for its Rainbow division and $80.1 million at Newsday.

Cablevision also posted solid subscriber growth, saying it added 27,000 home Internet customers, 24,900 phone subscribers and 2,900 basic video customers.

"For the second quarter, Cablevision delivered solid increases in revenue and AOCF, driven primarily by the ongoing strength of our core businesses. Both Cable and Rainbow performed well over the last three months fueled, in part, by impressive double-digit increases in advertising revenue,” CEO James Dolan said in a statement.

Shares of Cablevision, which recently spun off New York Knicks parent MSG (NYSE:MSG), had little reaction to the news, rising 0.11% to $27.57 Thursday. The stock has significantly outperformed this year, soaring almost 30%.