BETHPAGE, N.Y. (AP) — Cablevision, the nation’s fifth-largest cable company, is reporting that its fourth-quarter net income rose 45 percent, helped by its recent purchase of Bresnan Communications and a slight growth in phone and Internet customers.
Cablevision Systems Corp. said Wednesday it added a net 271,000 basic cable subscribers, bringing the total to about 3.3 million. Were it not for the Bresnan acquisition, it would have lost 35,000 basic cable customers. Bresnan had added customers in Montana, Wyoming, Colorado and Utah to Cablevision’s New York-area operations.
Cablevision’s earnings rose to $114 million, or 38 cents per share. That’s up from $78 million, or 26 cents per share, a year earlier.
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Revenue rose about 6 percent to $1.87 billion. That was roughly in line with the $1.85 billion analysts polled by FactSet were expecting.
Copyright 2011 The Associated Press.
