PxPixel
Cablevision Stock Rises 5% on Strong Q4 - Broadcasting & Cable

Cablevision Stock Rises 5% on Strong Q4

Dolan sees Wi-Fi driving future growth
Author:
Publish date:

Cablevision stock was up 5% in early trading Wednesday after reporting better than expected fourth quarter results.

Cablevision shares were up as much as 8% ($1.33) in early trading Wednesday to $17.95 per share, before settling back to $17.45 per share, up 5% (83 cents) by the afternoon.

The company seemed to surprise investors by only losing 18,000 basic video customers in the period – analysts had expected them to shed 29,000 video customers – and reporting a modest increase in high-speed data customers of about 6,000, ahead of the loss of 3,200 HSD customers most expected.

On a conference call with analysts, Cablevision said that part of the reason for the better than expected results was its program to stand its ground with customers who ask for extensions to promotional offers as they near that promo’s expiration date.

Go to Multichannel.com for the full story.

Related