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Cablevision Profits Triple on New Subscribers

Cablevision says its first-quarter earnings more than tripled as it added cable, phone and Internet customers. The company is also lifting its dividend by 25 percent.

New subscribers and more ad revenue for its cable channels lifted revenue, offsetting another decline at Newsday, the Long Island newspaper.

Cablevision Systems Corp., the nation’s fifth-largest cable TV operator, earned $74.2 million, or 24 cents per share, in the first three months of the year. That’s up from $21.2 million, or 7 cents per share, a year earlier.

Revenue climbed 5 percent to $1.75 billion.

Analysts expected net income of 33 cents on revenue of $1.73 billion.

Cablevision also declared a quarterly dividend of 12.5 cents per share.

BETHPAGE, N.Y. (AP)

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