Time Warner Cable 2Q net income rises

[August 05, 2010]  PHILADELPHIA (AP) -- Time Warner Cable says its second-quarter net income rose 8 percent as more customers signed up for digital cable TV, phone and Internet services, and advertising revenue improved.

The nation's second-largest cable company earned $342 million, or 95 cents per share, up from $316 million, or 89 cents per share, a year earlier.

Revenue rose 5.8 percent to $4.73 billion from $4.47 billion. Advertising revenue increased 24 percent to $216 million.

Results exceeded analysts' forecast of 93 cents per share on revenue of $4.68 billion.

Time Warner Cable Inc. lost 111,000 video customers in the seasonally slower quarter. But among those remaining, 50,000 more signed up for digital cable TV.

The New York company also added more Internet and phone customers.

[Associated Press; By DEBORAH YAO]

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