TWC posts USD1.07 billion net profit for FY2009

29 Jan 2010

Time Warner Cable (TWC) has announced net profit for the twelve months ended 31 December 2009 of USD1.07 billion on the back of growing revenues and customer additions. The company said that its 2009 profits are not comparable with the USD7.34 billion loss posted in 2008 as the previous year’s results had been affected by one-off items, such as a USD14.8 billion impairment on cable franchise rights. Total revenues for 2009 reached USD17.87 billion, up from USD17.2 billion a year earlier. TWC added 157,000 net new revenue generating units (RGUs) in the three months ended 31 December 2009, ending the year with a total of 35.23 million RGUs and 14.57 million individual customer relationships. The total of triple-play subscriptions grew by 64,000 quarter-on-quarter, up to 3.45 million at year-end 2009.

United States, Time Warner Cable (Spectrum)