Cablevision Systems Corp. (CVC) Misses on Earnings and Revenue
Cablevision Systems Corp (CVC) is one of the nation's leading entertainment and telecommunications companies. The company's advanced telecommunications offerings include its Lightpath integrated business communications services and its Optimum-branded high-speed Internet service
Currently, CVC has a Zacks Rank #3 (Hold), but the ranking is subject to change following the release of the company's latest earnings report. Here are 5 key statistics from this just announced report:
1. The company reported an EPS of 20 cents, which missed our Zacks Consensus Estimate of $0.22.
2. Cablevision posted revenues of $1.613 billion, which missed our estimate of $1.641 billion.
3. CVC reported its Strongest third quarter performance in customer relationships, video and high-speed data since 2012.
4. Cablevision CEO James L. Dolan said, "The third quarter was highlighted by the announcement of Cablevision's sale to Altice for $34.90 per share - an acquisition that will deliver significant value for our shareholders."
5. Shares of CVC remained basically flat today, but the stock is down about 0.18% in after-hours trading.
Here's a graph that looks at Cablevision's earnings surprise history:
Check back later for our full analysis on CVC's third quarter earnings report!
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