BETHPAGE, New York — Cablevision Systems Corp. (CVC) on Wednesday reported fourth-quarter net income of $56 million.
On a per-share basis, the Bethpage, New York-based company said it had profit of 20 cents.
The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The cable company posted revenue of $1.63 billion in the period, which met Street forecasts.
For the year, the company reported profit of $311.4 million, or $1.15 per share. Revenue was reported as $6.46 billion.
Cablevision shares have decreased 4 percent since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 3 percent. The stock has increased 23 percent in the last 12 months.
Keywords: Cablevision, Earnings Report
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