Cablevision Posts Q3 Loss

Cablevision (NYS: CVC) today announced third-quarter results, which saw the nation's No. 5 cable operator swing to a net loss. The loss of $3.8 million on the net income line was stark contrast to the $39 million profit in last year's third quarter. Net revenues came in at $1.7 billion, a 1% improvement on a year-over-year basis.

Cablevision is struggling in the face of mounting competition from on-demand video services such as Netflix (NAS: NFLX) , as well as companies relatively new to the business such as Amazon (NAS: AMZN) . It also has to contend with the offerings of satellite providers such as DISH Network (NAS: DISH) .

The New York-based provider is laboring to restore service to households affected by Hurricane Sandy. "Our number one challenge continues to be Cablevision households without electrical power and we are moving quickly to restore our service once power returns," said CEO James L. Dolan in a company press release today. "As of today, the vast majority of our Optimum WiFi hotspots are operational across the tri-state region and providing service to our customers."

The article Cablevision Posts Q3 Loss originally appeared on Fool.com.

Eric Volkman has no positions in the stocks mentioned above. The Motley Fool owns shares of Amazon.com and Netflix. Motley Fool newsletter services recommend Amazon.com and Netflix. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.