Cablevision posted a profit of $27.1 million, or 9 cents a share, compared with a year-ago loss of $79.3 million, or 27 cents a share. That fell short of Wall Street estimates for a profit of 14 cents a share, according to Thomson Reuters.
Company Chief Executive Jim Dolan also told analysts on a conference call that Cablevision is no longer seeking strategic alternatives as a result of deteriorating conditions for accessing capital as well as a slumping economy.
Shares of DirectTV (DTV) also fell on Thursday, down 6.3% to $19.49. The company beat Wall Street estimates for third-quarter revenue but missed profit estimates by 2 cents.The company reported gross subscriber additions of 315,000, up from 289,000 a year ago. But net additions were down to 79,000, from 161,000 a year ago.