Summary Box: Cablevision 1Q profit more than triples as cable company signs up new subscribersBy AP
Thursday, May 6, 2010
Summary Box: Cablevision 1Q net income soars
CASH MACHINE: Cablevision Systems Corp. said first-quarter net income more than tripled to $74.2 million, or 24 cents per share. Revenue rose 5.2 percent to $1.75 billion.
DIVIDEND INCREASE: The company raised its quarterly dividend by 25 percent to 12.5 cents per share.
DISAPPOINTMENT: Its stock tumbled. The earnings fell far below analysts’ forecasts. The industry’s stocks also were under pressure following a proposal to regulate Internet service more like a utility.