Cablevision 2nd-quarter profit tops Wall Street's view; revenue rises slightly

Industries Associated Press

Cablevision's second-quarter profit declined, weighed down by a higher income tax expense. But the performance managed to top analysts' estimates, and revenue improved slightly as it pulled in more money from cable customers.

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For the three months ended June 30, the Bethpage, New York-based company earned $75.6 million, or 27 cents per share. A year earlier it earned $94.2 million, or 35 cents per share.

Analysts surveyed by FactSet expected earnings of 25 cents per share.

Cablevision Systems Corp.'s income tax expense increased to $78.6 million from $61.8 million in the prior-year period.

Revenue climbed to $1.65 billion from $1.63 billion, meeting Wall Street's expectations.

Revenue for cable — which includes its Optimum-branded digital cable television, high-speed Internet and voice services as well as Optimum Wi-Fi — edged up 1.8 percent to $1.48 billion.

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The average monthly cable revenue per customer rose 3.8 percent to $158.52 from $152.72 a year ago.