WASHINGTON (dpa-AFX) - Telecommunications and media company Cablevision Systems Corp. (CVC) reported third-quarter net income attributable to stockholders of $71.49 million of $0.26 per share compared to $294.6 million or $1.10 per share in the year-ago quarter.
However, Cablevision said the sharp drop in third quarter net income was primarily due to discontinued operations Bresnan Cable and Clearview Cinemas.
The company reported income from continuing operations of $71.9 million or $0.26 per share, up from $59.7 million or $0.22 per share a year ago.
On average, 18 analysts polled by Thomson Reuters expected the company to earn $0.18 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenues for the quarter grew 3.7% to $1.63 billion from $1.57 billion a year ago. Analysts estimated revenues of $1.61 billion for the quarter.
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