Time Warner Cable Inc., the nation's second-largest cable operator, said its second-quarter income rose 14% due to a strong performance in its Internet and TV businesses, despite no real growth among its 14.7 total subscribers.
Noting its solid performance in the quarter, Time Warner CEO Glenn Britt said: "Despite the tough economic environment, we continue to grow, unlike many other businesses."
The earnings report, the first since the cable company was officially spun-off from Time Warner Inc. in March, beat analysts' expectations and reflects much of the cable industry's health: doing better than other media sectors, particularly broadcasting, but still suffering the pains of a weak ad market and unnerving basic cable-TV subscriber defections.
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