Cablevision Systems Corp Q3 Income Drops 68%

(RTTNews) - Cablevision Systems Corp (CVC) announced a profit for third quarter that declined compared to the same period last year.

The company said its bottom line dropped to $23.10 million, or $0.08 per share. This was down from $71.49 million, or $0.26 per share, in last year's third quarter.

Analysts had expected the company to earn $0.23 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 1.2% to $1.61 billion. This was down from $1.63 billion last year.

Cablevision Systems Corp earnings at a glance:

-Earnings (Q3): $23.10 Mln. vs. $71.49 Mln. last year. -Earnings Decline (Y-o-Y): -67.7% -EPS (Q3): $0.08 vs. $0.26 last year. -EPS Decline (Y-o-Y): -69.2% -Analysts Estimate: $0.23 -Revenue (Q3): $1.61 Bln vs. $1.63 Bln last year. -Revenue Change (Y-o-Y): -1.2%