×
You will be redirected back to your article in seconds

Time Warner Cable Reports 5% Rise In Profits

Earnings come despite subscriber losses

Time Warner Cable shares are down a little more than 1% in afternoon trading, as the conglom’s Q1 earnings were a bit of a mixed bag: On the one hand, the company lost about 119,000 video subscribers from the prior quarter, although profits rose 5%, driven largely by business services revenue growth of 25%.

In an analyst call on Thursday, TW Cable execs emphasized the steps the company has taken to retain customers, streamline business operations and aggressively return cash to investors. In the past two-and-a-half years, the conglom has devoted 110% of free cash flow to shareholders.

TW Cable reported a profit of $401 million, or $1.34 a share, up from $382 million, or $1.20 a share, a year before. That slightly missed analyst expectations of $1.37 per share (Although excluding certain one-time costs, earnings hit $1.41 a share). Revenue rose to 6.6%, driven largely by business services. Advertising rose 8%.

TW Cable execs attributed some of its subscriber losses to “discount seekers who were more likely to churn quickly.” The company has since implemented four separate “retention centers” to help keep customers without relying on heavily discounted packages. Company added 131,000 broadband subscribers but lost 35,000 voice subscribers.

Popular on Variety

More News

  • Midland Offers a Clever Take on

    Album Review: Midland's 'Let It Roll'

    At the end of 2019, if you tally up all the steel guitar playing that appeared on a mainstream country album released by a major label this year, chances are that at least 80 percent of it will have occurred solely on Midland’s new album. That’s not the only reason to buy “Let It Roll,” [...]

  • Courtney Kemp Agboh'Power' TV show final

    'Power' Creator Courtney A. Kemp On Why Starz Series Hasn't Gotten Awards Recognition

    “Power” is a top ratings performer for Starz and has a hugely committed fanbase, but the series has lacked in its awards recognition. Other than honors from the NAACP Image Awards, “Power” has not received any awards or nominations from the Emmys, Golden Globes or SAG — something that star and executive producer Curtis “50 [...]

  • Tony Ayres - International Live Action

    Netflix Boards Tony Ayres' Tech Thriller 'Clickbait'

    Top Australian film and TV creator, Tony Ayres, “Harry Potter” producer David Heyman and Christian White have set up “Clickbait,” a new thriller series for Netflix. It probes probing the dangers of social media and the widening gulf between people’s real and virtual selves. The show is to be produced in Melbourne, Australia through NBC [...]

  • Leonardo Dicaprio Once Upon a Time

    Leonardo DiCaprio's Earth Alliance Commits $5 Million to Amazon Fires

    Earth Alliance, an environmental initiative backed by Leonardo DiCaprio, has committed $5 million toward the preservation of the Amazon rain forest following an alarming surge in wildfires. After launching Sunday, the organization’s emergency Amazon Forest Fund is working to support local partners and indigenous communities in their efforts to protect the sensitive habitats within the [...]

  • (from left) Luke Hobbs (Dwayne Johnson)

    Box Office: 'Hobbs & Shaw' Scores $102 Million Debut in China, Nears $600 Million Globally

    Universal’s “Hobbs & Shaw” returned to first place on the international box office charts, thanks to a massive $102 million debut in China. The “Fast & Furious” spinoff, starring Dwayne Johnson and Jason Statham, collected another $120 million overseas, boosting its foreign tally to $441 million. “Hobbs & Shaw” is nearing the $600 million mark [...]

  • Taylor Swift: Borchetta 'Conveniently Forgets' Scooter

    Taylor Swift: Scott Borchetta 'Has 300 Million Reasons to Forget' Scooter Braun Warnings

    In an interview with “CBS Sunday Morning,” Taylor Swift charged that the president of her former label, Big Machine’s Scott Borchetta, has a selective memory when it came to recalling just how she’s long felt about Scooter Braun, who acquired her catalog when his Ithaca Holdings purchased the record company. “I knew he would sell [...]

  • Angel Has Fallen

    Box Office: 'Angel Has Fallen' Rises to No. 1 With $21 Million Debut

    “Angel Has Fallen,” the third chapter in Lionsgate and Millenium’s action franchise starring Gerard Butler, had a stronger opening weekend than expected, collecting $21.25 million during its first three days of release. Those ticket sales were enough to top domestic box office charts, bumping last weekend’s champ, Universal’s comedy “Good Boys,” to second place. Starring [...]

More From Our Brands

Access exclusive content