PROFITS SLIP: Cablevision Systems Corp. reports second-quarter net income of $60.9 million, or 21 cents per share. That’s down from $87 million, or 30 cents per share, a year ago.
THE REASON: Earnings included a $110 million loss related to paying off its debt and to write off certain financing costs.
BUT CORE BUSINESS BETTER: Cablevision added video subscribers in the quarter unlike other major cable TV operators. Its Rainbow unit, which handles the AMC, Sundance and IFC cable channels, also saw revenue grow.
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