Cablevision Systems Q4 Profit Plummets - Quick Facts

(RTTNews) - Telecom and media company Cablevision Systems Corp. (CVC) reported a plunge in fourth-quarter net profit attributable to stockholders to $51.84 million, or $0.19 per share, from $116.54 million, or $0.45 per share, last year. On average, 22 analysts polled by Thomson Reuters expected earnings per share of $0.09 for the quarter. Analysts' estimates typically exclude one-time items.

On the other hand, quarterly consolidated net revenues were $1.58 billion, up 4.5%, compared with the prior year's $1.52 billion, whereas 20 analysts estimated revenues of $1.57 billion.

The company said that financial results of Bresnan Broadband Holdings, LLC (Bresnan Cable) and substantially all of Clearview Cinemas are reflected in its consolidated financial statements as discontinued operations for all periods.