Cablevision Shares Up 1% After Beating Earnings Expectations

Cablevision Systems Corporation shares were up about 1% in premarket trade Wednesday after the company reported fourth quarter earnings that beat expectations. Cablevision reported a net income of $56.1 million, or 21 cents per share, up from $51.3 million, or 20 cents per share, in the year-earlier period. The company reported diluted earnings per share of 20 cents, above the FactSet consensus of 19 cents. Cablevision reported sales of $1.63 billion, up from $1.58 billion in the year-earlier period and above the consensus of $1.62 billion. The company also reported Tuesday a quarterly dividend of 15 cents per share on each outstanding share of class A and Class B common stock.