Cablevision Systems Q2 Profit From Cont. Opns Down - Quick Facts

(RTTNews) - Cablevision Systems Corp. (CVC) reported that its second-quarter income from continuing operations declined to $28.22 million from $77.24 million, with income from continuing operations per share decreasing to $0.11 from $0.29 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.04 per share for the quarter. Analysts' estimates typically exclude special items.

But, net income attributable to stockholders increased to $135.36 million or $0.51 per share, from $63.53 million or $0.24 per share in the same quarter last year.

Net revenues for the quarter rose to $1.57 billion from $1.56 billion in the prior year quarter. Sixteen analysts had consensus revenue estimate of $1.58 billion for the quarter.

On July 30, 2013, the Board of Directors of Cablevision declared a quarterly dividend of $0.15 per share on each outstanding share of both its Cablevision NY Group Class A Stock and its Cablevision NY Group Class B Stock. This quarterly dividend is payable on September 5, 2013 to shareholders of record at the close of business on August 15, 2013.