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Time Warner Cable reported in a mixed second quarter with basic video subscriber and high-speed data customer additions beating year-over-year marks, but missing analysts’ consensus estimates.
TWC lost 147,000 basic video customers in the quarter, a 22 per cent improvement over the same period last year, but far short of analysts’ consensus estimates of a loss of 99,000 video customers. The second largest cable operator in the country added 86,000 high-speed data customers in the period, a significant improvement over last year’s 21,000 additions, but again short of consensus estimates of 105,000 additions.
Revenue for the period was up 3.2 per cent to $5.7 billion and adjusted operating income before depreciation and amortisation increased 1 per cent to $2.1 billion.