Cablevision Systems Corp. Earnings Cheat Sheet: Profit Rises for Fourth Straight Quarter, but Misses Estimates

S&P 500 (NYSE:SPY) component Cablevision Systems Corporation (NYSE:CVC) reported a profit boost in the second quarter. Cablevision Systems Corporation is a telecommunications, media and entertainment company with a portfolio of operations in the United States.

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Cablevision Systems Earnings Cheat Sheet for the Second Quarter

Results: Net income for Cablevision Systems Corporation rose to $87.8 million (31 cents per share) vs. $60.9 million (20 cents per share) in the same quarter a year earlier. This marks a rise of 44.3% from the year earlier quarter.

Revenue: Rose 9.1% to $1.69 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: CVC fell short of the mean analyst estimate of 45 cents per share. It fell short of the average revenue estimate of $1.87 billion.

Quoting Management: Cablevision President and CEO James L. Dolan commented: “With the successful completion of the AMCNetworks spin-off, Cablevision’s consolidated results are now primarily driven by our telecommunications operations, which experienced solid revenue growth in the second quarter due largely to our Bresnan properties. The company also continued to generate healthy free cash flow. Moving forward, as we roll out new innovations like our iPad app and DVR Plus, Cablevision is more focused than ever on the strength of our telecommunications business and on creating additional value for our customers and shareholders.”

Key Stats:

The company has now seen net income rise in four straight quarters. In the first quarter, net income rose 40.3% while the figure climbed 45.2% in the fourth quarter of the last fiscal year and 13.3% in the third quarter of the last fiscal year from the year earlier.

The company has now missed analyst estimates for the last four quarters. It fell short by 4 cents in the first quarter, by 3 cents in the fourth quarter of the last fiscal year, and by 3 cents in the third quarter of the last fiscal year.

Competitors to Watch: Comcast Corporation (NASDAQ:CMCSA), Time Warner Cable Inc. (NYSE:TWC), Mediacom Communications Corp. (NASDAQ:MCCC), Time Warner Inc. (NYSE:TWX), Charter Communications, Inc. (NASDAQ:CHTR), DISH Network Corp. (NASDAQ:DISH), DirecTV (NASDAQ:DTV), TiVo (NASDAQ:TIVO), Netflix (NASDAQ:NFLX), The Walt Disney Company (NYSE:DIS), Liberty Global Inc. (NASDAQ:LBTYA), and China Cablecom Hldgs. Ltd. (NASDAQ:CABL).

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(Source: Xignite Financials)

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