The second largest US cable operator by subscribers Time Warner Cable’s (TWC) net income fell 12% to USD242 million in the first quarter of 2008 from USD276 million a year earlier. Operating income rose 10% to USD636 million, up from USD579 million, as total revenue rose 8% to reach USD4.2 billion.
The operator added 55,000 basic video subscribers in the quarter, taking its total to 13.3 million by 31 March 2008. It also reported 261,000 digital-cable net additions in the quarter, pushing its total to 8.28 million. Residential high speed customers grew 304,000 to 7.92 million, while the operator added 289,000 phone customers to take the total to 3.17 million.