Cablevision Q3 profit trebles y-o-y

4 Nov 2009

US-based cableco Cablevision has reported net profit of USD98.6 million for the three months ended 30 September 2009, up from USD31.4 million in the same period a year earlier. The company’s telecoms unit posted a 4.9% year-on-year rise in third quarter revenues, up from USD1.29 billion in Q308 to USD1.36 billion in 2009. Operating income was up 25.3% from USD282.8 million in the third quarter of 2008 to USD354.3 million a year later. The company partly attributed the growth to favourable adjustments worth USD25.7 million relating to the resolution of regulatory and legal matters. Cablevision added 34,000 fixed line telephony customers in the three months ended 30 September 2009, ending the period with two million voice subscribers. Meanwhile the company added 19,000 broadband customers, bringing the total to 2.52 million. Its digital video subscriber base declined over the three month period, however, down from 2.9 million at the end of June 2009 to 2.88 million three months later.

United States, Cablevision Systems (Optimum)