The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Cablevision Systems met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew slightly and GAAP earnings per share shrank to a loss.
Margins dropped across the board.
Cablevision Systems booked revenue of $1.69 billion. The 20 analysts polled by S&P Capital IQ expected a top line of $1.69 billion on the same basis. GAAP reported sales were 1.2% higher than the prior-year quarter's $1.67 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 $0.22. The 21 earnings estimates compiled by S&P Capital IQ anticipated $0.16 per share. GAAP EPS were -$0.01 for Q3 against $0.14 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 51.6%, 240 basis points worse than the prior-year quarter. Operating margin was 13.1%, 330 basis points worse than the prior-year quarter. Net margin was -0.2%, 260 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.72 billion. On the bottom line, the average EPS estimate is $0.21.
Next year's average estimate for revenue is $6.76 billion. The average EPS estimate is $0.80.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 109 members out of 176 rating the stock outperform, and 67 members rating it underperform. Among 58 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 40 give Cablevision Systems a green thumbs-up, and 18 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cablevision Systems is outperform, with an average price target of $17.06.
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