Cablevision tops, loses viewers

Investor's Business Daily

The cable TV systems operator reported Q3 adjusted earnings per share of 23 cents, 35% higher than last year, beating estimates by 7 cents. Cablevision Systems (CVC) revenue edged up to $1.685 bil from $1.67 bil last year, roughly in line with forecasts. Like rivals Comcast (CMCSA) and Time Warner Cable (TWC), Cablevision lost video customers in the quarter to rivals such as satellite TV provider DirecTV (DTV) and wireless service operator Verizon Communications (VZ). Cablevision shares fell 6.3% to 15.49.

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