Cablevision Systems Corp. on Thursday said net income for the first quarter was $94.38 million, or 34 cents per share, compared with $44.63 million, or 16 cents a share during the same quarter a year ago. The FactSet consensus on earnings was 19 cents per share. Revenue hit $1.64 billion in the quarter, compared with $1.61 billion in the year earlier period. The FactSet consensus was $1.64 billion. The company said it lost 15,000 video subscribers and 8,000 telephone subscribers during the quarter, while adding 19,000 high-speed Internet subscribers. Cablevision expects its acquisition by Altice, which will buy the Cablevision for $34.90 per share in cash, to close in the second quarter.
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