Cablevision Systems Corp. beat the street by increasing profit by 5% to $2.14 billion. Analysts expected a $2.03 billion post.
The company added 99,100 net new Internet, cable and phone customers in 4Q, although they lost of 2,800, or 0.1% of basic video cable users.
Its neat PC-to-TV service is slated to debut in June, which could also boost revenues and subscriptions.
More from the AP:
The nation’s fifth-largest cable TV operator said Thursday it earned $78.4 million, or 26 cents per share. In the same quarter a year earlier it lost $323.2 million, or $1.11 per share, when it booked a $400 million charge to write down the value of its Newsday newspaper acquisition.
Revenue in the most recent quarter rose 5 per cent to $2.14 billion.
The Bethpage, N.Y., company said all of its businesses strengthened, except for Newsday. Newspaper revenue fell nearly 16 per cent, mainly because of drops in advertising.
In contrast, Cablevision’s cable channels saw a 13 per cent increase in advertising revenue.
Newsday’s fourth quarter 2009 net revenues decreased 15.7% to $90.3 million as a result of a 20.1% decline in advertising revenue offset slightly by a 1.2% rise in circulation revenue.
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