posted a wider loss Thursday but reported strong across-the-board growth.
Shares in the New York-based cable operator fell slightly in midmorning trading Thursday, dropping 1/2, or 1%, to 70 1/2. (The stock closed Thursday down 2 5/8, or 3.7%, at 68 3/8.)
Cablevision posted a $216 million loss for the fourth quarter, or $1.27 a share, from $184.7 million, or $1.22 a share, in the year-ago period. Analysts surveyed by
First Call/Thomson Financial
projected a loss of $1.28.
The company said the wider losses grew out of increased spending on upgrading its systems for digital television and other new services.
Jessica Reif-Cohen, the influential media analyst at
, called the results "excellent" in a note issued Thursday morning. She said subscriber growth, which increased at a 2.7% clip, was "at the high end of the industry average." Reif-Cohen had projected a subscriber increase of 2.5%. She also cited better-than-expected growth in the company's high-speed data subscribers, its Long Island commercial telephone subscribers and its
unit, which includes cable channels
American Movie Classics
Cablevision revenues increased to $1.16 billion from $977.3 million.