Cablevision Systems Corp., one of the top U.S. cable television operators, on Wednesday posted a narrower third-quarter loss and reported subscriber growth for all of its cable services.
The company, which is currently assessing a bid by the Dolan family to take it private, said the net loss slimmed to $59.2 million, or 21 cents a share, from $62.9 million, or 22 cents a share, a year ago.
Revenue rose to $1.41 billion from $1.24 billion for Cablevision, which serves 3 million households in the New York metropolitan area.
Analysts, on average, expected the company, which also owns the Madison Square Garden arena in New York and cable TV networks AMC, IFC and WE, to post a loss of $38 million, or 13 cents per share, on revenue of $1.41 billion.
Bethpage, New York-based Cablevision said basic video subscribers were up for the tenth consecutive quarter, by nearly 10,000 in the third quarter. It added 93,600 digital video subscribers, 72,400 high-speed data subscribers and 113,100 digital phone subscribers.
Last month, the Dolan family, which owns a controlling stake in the company, offered to take it private, valuing Cablevision at $7.9 billion.