Time Warner Cable Income Down29 Apr, 2009 By: Erik Gruenwedel
Video price increases helped offset declines in revenue from basic video subscribers, premium channel and fee-based video-on-demand (VOD) as Time Warner Cable Inc. posted first-quarter (ended March 31) net income of $164 million, down 33% from income of $242 million during the prior-year period when it was owned by Time Warner Inc.
Digital video subscribers increased by 121,000 net additions to 8.7 million subs, compared to 8.6 million subs last year.
The company said more than 55% of its 14.7 million subscribers received bundled services, which include video, high-speed Internet service and telephone.
Total revenue increased 5% to $4.4 billion, from $4.2 billion last year.