Cablevision Systems losses increase
US entertainment and telecoms company Cablevision Systems has reported that its net loss increased to US31.6 million in the three months to 31 March 2008 from USD26.3 million in the first quarter of 2007. Revenues for the quarter grew 10.1% year-on-year to USD1.72 billion from USD1.56 billion last year. Telecoms services net revenue rose 10.6% to USD1.262 billion and operating income increased 38.7% to USD257.3 million. The company also announced it is planning to invest USD350 million to build its own wireless broadband network to serve its customers in New York with the network expected to be up and running in the next two years.
Original Source: TeleGeography CommsUpdate
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