Cable system operator Cablevision reported third-quarter results today before the markets opened, showing that it posted consolidated net revenues of $1.57 billion, a 1.8% increase from the same period in the previous year and just ahead of the $1.56 billion Capital IQ consensus estimate.
While adjusted net income came in at $59.7 million, or $0.22 per share, well ahead from $3.7 million, or $0.01 per share in the same period in 2012, it was $0.10 per share better than the CapIQ estimates of $0.12 per share.
Cablevision says it benefited from a near-9% increase in cable advertising revenue as well as a 5% increase in average monthly revenue per video customer.
The cable system operator didn't provide guidance for the coming quarter, but analysts anticipate Cablevision to post earnings of $0.11 per share in the fourth quarter on revenues of $1.58 billion.
Shares of the cable operator closed down 3.5% today.
The article Cablevision Beats on Top and Bottom Lines originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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