Time Warner Cable seems to be bucking the downward trend that plagued some telcos and the vendor community in that it saw its profits increase during the fourth quarter of 09.
TWC also beat analyst net income expectations. For the quarter, TWC reported $322 million, or 91 cents a share in net income, versus analyst forecasts of 88 cents a share. Company revenue also was up 3 percent to 4.5 billion.
Of course, TWC saw inevitable losses and additions. During the quarter, the company lost 105,000 video subscribers. Citing a slowdown in customer spending, Time Warner Cable only roped in 120,000 new broadband and 75,000 new phone customers. Analysts expected the cable MSO to only loose 30,000 video subscribers and add 100,000 new Internet and 120,000 phone customers, respectively.
While its residential customer additions slowed in Q4, a big focus of growth in 2010 for TWC will be commercial business services. In its earnings release, Chief Operating Officer Landell Hobbs said he expects the MSO's commercial services revenue to grow above 20 percent in 2010.
For more:
- see the earnings release here
- Reuters also has this article
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