Cablevision loses 20,000 video customers, but profit rises
(Reuters) - Cablevision Systems Corp lost a more-than-expected 20,000 cable television customers, but its net income rose in the second quarter, as it made more money off its subscribers.
It lost 20,000 video subscribers, which was more than the 4,700 customers analysts were expecting, according to research firm StreetAccount.
Cablevision on Friday posted net income of $135.7 million, or 51 cents per share, compared with net income of $63.8 million, or 24 cents per share, in the same period a year before.
Revenue rose about 1 percent to $1.57 billion, which slightly missed analysts' average estimate of $1.58 billion, according to Thomson Reuters I/B/E/S.
(Reporting by Liana B. Baker; Editing by Gerald E. McCormick)
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