Why Cablevision (CVC) Is Higher on Wednesday

Updated in fifth paragraph to correct reported adjusted income. 

NEW YORK (TheStreet) -- Cablevision (CVC) is higher on Wednesday following fourth-quarter earnings and revenue which came in better than expected.

By late afternoon, shares had gained 4.2% to $17.31.

In the three months to December, the cable service provider generated revenue 4.5% higher to $1.58 billion. Analysts surveyed by Thomson Reuters had forecast sales of $1.57 billion.

Net income of $51.8 million, or 19 cents a share, was lower than $116.54 million, or 45 cents a share, in the year-ago quarter. The year-on-year decline was due to the absence of profits from Bresnan and Clearview Cinemas, two discontinued operations.

Stripping out these variances, adjusted income was 18 cents a share, higher than analyst consensus of 9 cents a share.

Also See: Cablevision Reports Q4 and FY Results

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TheStreet Ratings team rates CABLEVISION SYS CORP as a Hold with a ratings score of C-. The team has this to say about their recommendation:

"We rate CABLEVISION SYS CORP (CVC) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth and increase in stock price during the past year. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall."

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