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Time Warner Cable added 30,000 residential video
customers in the first quarter ended March 31 on a net basis,
more than the 11,800 market research firm Factset StreetAccount
had estimated.
The company lost 38,000 residential video subscribers in the
fourth quarter.
The cable TV operator has been losing residential video
subscribers since it started breaking out numbers for
residential and commercial video subscribers separately since
the fourth quarter of 2010.
The company also added 315,000 residential high-speed data
customers in the quarter on a net basis, more than the 231,100
Factset StreetAccount had estimated.
Last week, Comcast Corp <CMCSA.O> abandoned its $45 billion
offer to buy Time Warner Cable after U.S. regulators raised
concerns that the deal would give Comcast an unfair advantage in
the cable TV and Internet-based services market.
Reuters reported on Monday, citing people familiar with the
matter, that Time Warner Cable is open to merger discussions
with Charter Communications Inc <CHTR.O>.
Time Warner Cable has been bleeding customers, who are switching
to internet streaming services offered by companies such as
Netflix Inc <NFLX.O>.
Netflix reported a 22 percent rise in its net subscriber
additions to 4.88 million in the March quarter, beating its
forecast of 4.05 million.
To retain customers, Time Warner Cable is increasingly offering
a bundle of TV, Internet and phone services.
Net income attributable to Time Warner Cable's common
shareholders fell to $458 million, or $1.59 per share, in the
quarter ended March 31, from $479 million, or $1.70 per share, a
year earlier.
Revenue rose to $5.78 billion from $5.58 billion.
Analysts on average had expected earnings of $1.87 per share on
revenue of $5.83 billion, according to Thomson Reuters I/B/E/S.
Time Warner Cable's shares closed at $157.86 on the New York
Stock Exchange on Wednesday.
(Reporting by Subrat Patnaik in Bengaluru; Editing by Saumyadeb
Chakrabarty and Maju Samuel)
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