Monday, January 25, 2021

TIME WARNER CABLE REPORTS BIG JUMP IN PROFITS

April 24, 2014 by · Leave a Comment 

Time Warner Cable reported its best quarterly results in five years today (Thursday), saying that profits rose 19 percent to $479 million from $401 million a year ago. It attributed most of that increase to a whopping 105-percent growth in broadband revenue. It lost 34,000 residential video subscribers, but that represented the smallest drop since 2009; last year during the same quarter it lost 131,000 video subscribers. Perhaps helping to put the brakes on subscriber loss was Time Warner Cable’s virtual exclusivity of Dodgers telecasts in Southern California. In a conference call, CEO Rob Marcus said that many new subscribers are moving to Time Warner Cable to watch the Dodgers. BTIG analyst Richard Greenfield observed this week that with no progress in talks between TWC and DirecTV to carry SportsNetLA, “the gloves appear to have come off. Time Warner Cable is now actively marketing that DirecTV does not carry SportsNetLA and that DirecTV subscribers should switch to Time Warner Cable if they want to enjoy all LA Dodgers games.”