Cablevision profit more than triples
Revenue rises 5% to $1.84 billionNEW YORK -- Cablevision Systems on Tuesday reported that its third-quarter profit more than tripled as it continued to add customers in advanced cable services.
However, is basic cable subscriber base declined slightly as the cable operator lost 27,300 basic users in the latest quarter.
Cablevision's profit of $98.9 million compared with $30.9 million in the year-ago period.
Revenue rose 5% to $1.84 billion in what is typically Cablevision's seasonally weakest quarter.
The company said it is on track to spin off its Madison Square Garden operations by year's end.