Cablevision Tops Profit, Revenue Estimates

Cablevision Systems Corp. said Monday it had net income of $44.6 million, or 16 cents a share, in the first quarter, down from $89.9 million, or 33 cents a share, in the year-earlier period. Adjusted per-share earnings came to 20 cents, ahead of the FactSet consensus of 17 cents. Revenue rose to $1.614 billion from $1.575 billion, ahead of the FactSet consensus of $1.605 billion. Average monthly cable revenue per customer rose 4.8% from a year ago. "As we move through the year, we will continue to address evolving consumer demand by expanding our product offerings to provide greater value and flexibility," Chief Executive James Dolan said in a statement. Shares were not yet active in premarket trade, but are down 1.2% in the year so far, while the S&P 500 has gained 2.4%.