Time Warner Cable profits rise, subs decline
April 26, 2012
Time Warner Cable, the second-largest US cable-television provider, has reported improved first-quarter financials, but said it lost 94,000 residential video subscribers to end March with about 12.47 million. In the period last year it had lost 42,000 subscribers.
First-quarter earnings of $383 million rose 18 per cent from $326 million in the year-ago period. Revenue for the quarter increased 6.4 per cent to $5.1 billion, in part driven by acquisitions. It added 214,000 broadband users and 112,000 telephony users in the latest period.
Time Warner Cable CEO Glenn Britt said: “Time Warner Cable’s first quarter results reflect continued strong performance, and residential Internet and business services were standouts.”