TWC misses expectations, bleeds more video subs in Q3
| 31 October 2014
No 2 US cable MSO Time Warner Cable bled yet more residential video customers in the third quarter of 2014, losing profit in the process.
TWC lost 184,000 residential video customers in the quarter, more than the 136,000 that were estimated. And analysts had expected the cable company to post earnings of $5.75 million, but it came in at $5.71 million instead, a 3.6% increase year-over-year.
That said, it reported 108,000 in total high speed data net additions, which was the best third quarter performance in five years.
The cable service provider also finished the all-digital conversion in Los Angeles and New York City, making internet speeds of up to 300 mbps available to about seven million homes in all.
The news comes as the $45 billion merger with Comcast is, for now, on hold.