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Time Warner Cable returns to TV customer growth in Q1
2015-04-30 18:22:00| Telecompaper Headlines
(Telecompaper) Time Warner Cable returned to net growth in TV subscribers in the first quarter, its first increase since 2009. The cable operator added 30,000 new TV customers in the three months, for a total 10.819 million at the end of March. Broadband customers grew by 315,000 in the quarter to 11.990 million, and telephony subscribers increased by 320,000 compared to the end of December to 5.604 million. The company's revenues were up 3.5 percent year-on-year to USD 5.777 billion, with a 2.1 percent increase in residential and 16.9 percent higher sales in the business segment. Adjusted OIBDA rose a slower 0.8 percent to USD 1.996 billion amid an increase in programming costs and investments in customer care and technical operations. Net earnings were down 6.5 percent from a year ago to USD 1.65 per share. After a 36 percent increase in capital expenditure to USD 1.134 billion, free cash flow fell 35 percent to USD 407 million.
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Category:Telecommunications
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