Cablevision Systems Corp. reported stronger than expected Q1 earnings one day after accepting the third buyout offer from the Dolan family, the company's founding family and controlling shareholders.
Revenue rose 12.5% to $1.59 billion from $1.41 billion, thanks primarily to growth in cable due to an increase in basic and premium subcriptions.Cablevision's shares rose 29 cents to $36.19. The company's consolidated adjusted operating cash flow rose 21% to $481.6 million. Cablevision's earnings were buoyed by continued demand for its digital TV and telephone products.
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