The economy is weak, but you wouldn’t know it from Time Warner Cable’s 2Q earnings. The No. 2 cable operator reports net income of $420M on revenues of $4.9B, up 4.4% vs the same period last year. Earnings, at $1.24 a share, zoomed past the $1.16 that analysts expected. The company attributes the increase to strong sales of business and residential phone and broadband services. The core home pay TV business didn’t help, though: Time Warner Cable lost 130,000 subscribers in the quarter ending up with 12.1M. It also says that sales for VOD and premium channels were down. Revenues for residential video, at $2.68B, only fell 0.1% due to a price hike and company efforts to upsell customers to higher-priced service tiers. While that may worry investors, they may be more impressed by the fact that Time Warner Cable returned $1B to them in the quarter — $863M from share repurchases and $163M from a dividend. The company is authorized to buy back an additional $1.8B in stock.
Time Warner Cable 2Q Profits +22.8%, Soaring Past Estimates
What's Hot on Deadline
'Black Panther' Goes Wild: 2nd Best Sunday $60M+; 3-Day $201M+; 4-Day To Shred 'Jurassic World' & Possibly 'Last Jedi'
Winter Olympics: Adam Rippon Turns Down NBC Correspondent Position, Net Struggles With Broadcast Gaffes — Update
Olympic Curling Medalist From Russia Busted For Doping; Wardrobe Malfunction Leaves French Ice Dancer Exposed
Latest TV News
- SAG-AFTRA Closes “Wigging” Probe, Says It “Remains Committed” To Ending Practice Of Men Doubling For Women
- Fergie Apologizes For NBA All-Star Game National Anthem That “Didn’t Strike The Intended Tone”
- Donald Trump Will Attend This Year’s Gridiron Dinner; Still A “Maybe” On White House Correspondents…
- David Parfitt Accuses Harvey Weinstein Of Assaulting Him On ‘My Week With Marilyn’
- NBA All-Star Game Scores In Ratings For TNT & TBS
- Olympic Curling Medalist From Russia Busted For Doping; Wardrobe Malfunction Leaves French Ice Dancer Exposed