Cablevision (cvc)

[ICEQUITY]

Cablevision Systems Corp. (CVC) announced disappointing earnings on Friday. Third-quarter earnings fir the cable provider declined to $39.6 million, or 14 cents a share, from year-ago levels of $112.4 million, or 38 cents a share. Revenue did add 8 percent to reach $1.67 billion. The numbers fell short of analyst expectations with a 65 percent profit loss. The company shed 19,000 video subscribers during the period, less than the 26,000 average estimate of Bloomberg analysts predicted but enough that their bottom line will be negatively impacted. In all likelihood those subscribers that have left might stay away as they sign up with new providers like Verizon, or abandon the service entirely in favor of internet programming. Shares of the company have declined 15 percent since the earnings report and 56.68 percent YTD. In spite of seeming technically inexpensive with a P/E ratio of 11.91, the cable provider is likely to struggle to regain lost value as subscribers leave and force the company to make up the difference in other areas of its business.

http://editorial.equities.com/financial/cutting-the-cord-on-cable/