Time Warner Cable Q1 sales rose 6.6 percent...
Time Warner Cable Q1 sales rose 6.6 percent to $5.5 billion from the year-ago quarter, the company said Wednesday. Some of the results were worse than Wall Street expected, said analysts. “TWC reported a disappointing 1Q against a backdrop of…
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low market expectations for both financial and subscriber results,” said Evercore Partners in an email to investors. Residential services revenue increased 4 percent to $4.6 billion, “driven by an increase in high speed data revenue” though the gain was “partially offset” by declines in video subscribers and a drop in the average revenue per voice subscriber, the company said in a news release (http://bit.ly/ZvxcRM). CEO Glenn Britt said it’s “executing on our revitalization plans to build a fundamentally stronger and more agile operation” in residential services. TWC’s business services revenue rose 25 percent to $537 million “primarily due to increases in high-speed data and voice subscribers and growth in cell tower backhaul revenue,” said TWC. “The company did generate financial results about in line with consensus expectations, but subscriber trends were lower than expected,” said Evercore.