Cablevision Stumbles in Q2

Basic subs fall 23K, revenue and cash flow growth weak
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Cablevision Systems stock plunged more than 10% ($2.04 per share) to $17.48 per share in early trading Tuesday, after the company reported disappointing second quarter results.

The Bethpage, N.Y., operator, usually one of the strongest performers in the sector, stumbled in the second quarter, losing 23,000 basic video customers and missing analysts' consensus on practically every growth metric in the period.

At the cable operations, revenue was up 1.3% and cash flow was flat, excluding its Bresnan Communicationsoperations.

Click here to read the full story at Mutlichannel.com.

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