The 10-second takeaway
For the quarter ended June 30 (Q2), Cablevision Systems met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue improved slightly and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Cablevision Systems reported revenue of $1.70 billion. The 15 analysts polled by S&P Capital IQ wanted to see a top line of $1.69 billion on the same basis. GAAP reported sales were 0.5% higher than the prior-year quarter's $1.69 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.24. The 18 earnings estimates compiled by S&P Capital IQ predicted $0.20 per share. GAAP EPS of $0.24 for Q2 were 20% lower than the prior-year quarter's $0.30 per share. (The prior-year quarter included $0.06 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 52.3%, 350 basis points worse than the prior-year quarter. Operating margin was 15.3%, 320 basis points worse than the prior-year quarter. Net margin was 3.7%, 150 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.69 billion. On the bottom line, the average EPS estimate is $0.17.
Next year's average estimate for revenue is $6.77 billion. The average EPS estimate is $0.81.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 114 members out of 176 rating the stock outperform, and 62 members rating it underperform. Among 60 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 39 give Cablevision Systems a green thumbs-up, and 21 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cablevision Systems is hold, with an average price target of $15.91.
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