Time Warner Cable easily beat analyst estimates on practically every front during the fourth quarter, with net income soaring 44%, cash flow up nearly 9% and basic subscriber losses in line at 129,000 for the period.
In a statement, TWC chairman and CEO Glenn Britt said the fourth quarter performance was a testament to the continued strength of the company's core business "amidst rapid change in technology and the consumer marketplace. We have a full slate of strategic and operational initiatives planned for the year ahead, all designed to generate strong cash flow, enable future growth and provide attractive returns to our shareholders."
For the quarter, revenue increased 4% to $5 billion, fueled by a 37% increase in business services revenue to $409 million, and a 10% bump in advertising sales to $242 million. Analysts had predicted 3.5% revenue growth folr the period.
For the full year, revenue was up 4.3% to $19.7 billion, spurred by a 32% rise in business services revenue (to$1.5 billion), while adveritsing revenue remained flat at $880 million.
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.