Broadband & Biz Services Power TWC's Q1
The MSO lost 94,000 video customers in the period, much worse than the loss of 42,000 video subscribers in the year-ago period. It ended the quarter with 12.46 million video customers.
But those losses were offset by solid gains in other service categories, as the MSO signed up 214,000 new high-speed data and 112,000 new voice customers, taking the totals for those services to 10.71 million and 4.94 million respectively.
TW Cable posted a profit of US$382 million ($1.20 per share) on revenues of $5.1 billion, up 6.4 percent from the year-ago quarter. Analysts polled by Thomson Reuters were expecting a profit of $1.21 per share and revenues of $5.12 billion.
Residential service revenues rose 4.1 percent to $4.4 billion in the quarter, while business service revenues, an increasingly strong market for TW Cable and other U.S. MSOs, jumped 37.5 percent to $429 million.
— Jeff Baumgartner, Site Editor, Light Reading Cable