Cablevision Systems reported a three-fold increase in net income for the first quarter, thanks to a slew of new subscriptions and robust cable ad revenues.
Revenue rose 5 percent, to $1.75 billion, slightly higher than the average estimate of $1.73 billion. A highlight was a 35 percent increase in cable advertising revenue. Revenue in the same period last year was $1.67 billion.
Cablevision-owned Newsday,on the other hand, hasn’t had it so good. The paper saw revenue fall 10 percent and lost $4.7 million. But hey, that’s $2.5 million less than last year.