Cablevision posts 3Q profit, results top Wall Street forecasts

Industries Associated Press

Cablevision Systems Corp. (CVC) on Thursday reported third-quarter profit of $71.5 million.

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The Bethpage, New York-based company said it had profit of 26 cents per share.

The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The cable company posted revenue of $1.63 billion in the period, also exceeding Street forecasts. Analysts expected $1.61 billion, according to Zacks.

Cablevision shares have climbed 3 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 9.5 percent. The stock has climbed 14 percent in the last 12 months.

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This story was generated by Automated Insights (http://www.automatedinsights.com/ap ) using data from Zacks Investment Research. CVC stock research report from Zacks: http://www.zacks.com/ap/CVC .

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Keywords:Cablevision,Earnings Report