Time Warner Cable Revenue Up 5.4% In Q1

April 30, 2010

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Time Warner Cable Revenue Up 5.4% In Q1

Time Warner Cable posted a first-quarter 30 percent increase in profit driven by the strong growth of its Internet, phone and digital cable customers.

Revenue increased by 5.4 percent to $4.6 billion during the quarter. Profit was 82 cents a share, beating analysts estimates of 74 cents on average, according to a consensus forecast from Thomson Reuters.

First quarter net income was $214 million, or 60 cents a share, compared with $164 million or 48 cents a share for the same time period the previous year.

Free cash flow for the quarter increased 77.7 percent to $652 million from $367 million a year earlier.

"We're off to a great start in 2010," said Glenn Britt, Chief Executive Officer, Time Warner Cable. "Through product enhancements, more effective marketing and cost management, we drove profitable first-quarter growth even in the face of more intense competition."

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