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Cablevision beats 1Q net income expectations, meets revenue forecasts

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BETHPAGE, New York — Cablevision Systems Corp. (CVC) on Monday reported first-quarter net income of $44.6 million.

On a per-share basis, the Bethpage, New York-based company said it had net income of 16 cents. Earnings, adjusted to account for discontinued operations, were 20 cents per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The cable company posted revenue of $1.61 billion in the period, which met Street forecasts.

Cablevision shares have declined 1 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 2 percent. The stock has increased 22 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVC at http://www.zacks.com/ap/CVC

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Keywords: Cablevision, Earnings Report

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