Sub Gains Boost Time Warner Cable 1Q

Time Warner Cable revenue grew 5% to $4.8 billion during the first quarter, the nation’s second-largest cable company said today in reporting earnings, citing gains in subscribers to its high-speed broadband and phone services. Net income grew from $214 million a year ago to $325 million, or 93 cents per share, a figure that beat analyst expectations. Advertising revenue increased 13.9% to $197 million, driven by year-over-year increases in categories like automotive and media. “This is an exciting time for Time Warner Cable,” chairman, president and CEO Glenn Britt said in a statement. “Our high-speed data product just crossed the 10 million subscriber threshold and is quickly becoming the anchor product in the eyes of consumers. At the same time, new technology is making it possible for us to provide an even better video experience to our customers.”

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