Cablevision Declines as Sandy Costs Leads to Quarterly Loss

Cablevision Systems Corp., the fifth-largest U.S. cable provider by subscribers, dropped the most in a year after Superstorm Sandy’s devastation led to a fourth-quarter operating loss.

The net loss from continuing operations was $83.7 million, or 32 cents a share, compared with a profit of $60.5 million, or 22 cents, a year earlier, the company said today in a statement. Sales fell 1.6 percent to $1.66 billion, missing the $1.7 billion average of analyst estimates compiled by Bloomberg.