TWC 3Q profit slips 11%

6 Nov 2009

Time Warner Cable (TWC) has reported an 11% year-on-year decline in third-quarter 2009 net profit after paying higher interest expenses on debt incurred during the separation from parent company Time Warner Inc. TWC revealed it earned USD268 million in the quarter, down from USD301 million a year earlier. Revenues for the period grew by 4%, from USD4.34 billion in Q308 to USD4.5 billion a year later. The company added 117,000 net new Revenue Generating Units (RGUs) during the three months ended 30 September 2009, ending the period with a total of 35.08 million RGUs. TWC added 121,000 broadband customers during the three month period, and 72,000 fixed line telephony subscribers, giving the company a total of 9.17 million and 4.14 million subscribers respectively. These additions were partially offset by a drop in basic video subscriptions, down by 84,000 year-on-year to 12.96 million.

United States, Time Warner Cable (Spectrum)