“The real pressure on the pay TV operators has tended to be at the very low end of the market,” Moffett said. “And that reflects more on issues of poverty than on issues of technology.”
Boosted by better-than-expected subscriber numbers, Comcast reported net income of $1.02 billion, or 36 cents per share, in the three months ended Dec. 31, up from $955 million, or 33 cents per share, a year earlier. That beat the 32 cents expected by analysts polled by FactSet. Revenue rose 7 percent to $9.72 billion, beating expectations for $9.58 billion.
Cablevision’s net income rose to $114 million, or 38 cents per share, from $78 million, or 26 cents per share. That was short of the 42 cents expected by analysts. Revenue rose about 6 percent to $1.87 billion from $1.77 billion, roughly in line with the $1.85 billion expected.
Comcast shares rose 97 cents, or 4 percent, to close at $25.13 in regular trading on Wednesday, while Cablevision shares fell 66 cents to close at $36.76.
AP Technology Writer Dana Wollman in New York contributed to this report.
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