Cablevision Delays 2Q Results, Net Revenue At Cable Unit Grew Nearly 18%

  • August 9, 2006
Cablevision delayed its second-quarter earnings results, citing newly discovered discrepancies in stock-option grants between 1997 and 2002. As a result, Cablevision is expected to restate its results for all earnings periods between 1997 and the present. Cablevision did issue breakdown of revenue performance at its Rainbow Media cable networks division. Second-quarter net revenues at AMC, WE: Women's Entertainment and IFC rose 12 percent to $151.7 million year-over-year, and ad revenue was up 13.8 percent. Second-quarter total net revenue rose 15.6 percent to $1.42 billion, while the cable unit grew revenue 17.9 percent to $1.05 billion, thanks to continued gains in broadband, digital and voice-over-IP subs.

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