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Actionable news in CVC: CABLEVISION SYSTEMS Corp,

Cablevision Posts Solid Earnings as Altice Acquisition Gains FCC Approval


Cablevision (CVC - Get Report) shares were flat Thursday morning after the company reported earnings that exceeded expectations and two days after a U.S. regulator approved its acquisition by a European peer.

The Bethpage, N.Y., company said it earned 34 cents per share in the first quarter on revenue of $1.64 billion, roughly in line with analysts' expectations. EPS were more than double the 16 cents earned in the same quarter last year, while revenue was up 1.6% from $1.61 billion a year ago.

The company added about 9,000 total customers in the quarter, for a total of about 3.13 million, led by gains in high-speed data customers. The gain of 19,000 high-speed data customers was larger than the additions in first-quarter 2015 and 2014 combined.