Summary: Time Warner Cable 1Q tops views

AP News
Posted: Apr 28, 2011 2:05 PM
Summary: Time Warner Cable 1Q tops views

WEB GAINS: Time Warner Cable Inc. said a jump in broadband Internet subscribers contributed to a 52 percent increase in first-quarter net income to $325 million, or 93 cents per share. Revenue rose 5 percent to $4.83 billion.

SUBSCRIBER SHIFT: The company added 177,000 net residential Internet customers, more than expected, but lost 66,000 residential video customers. Combined with business customers, data subscribers now top 10 million, compared with 12.3 million video customers.

DATA FOCUSED: CEO Glenn Britt says high-speed data connections are now the "anchor product" in the eyes of consumers, and said Web-delivery of video could one day make set-top boxes unnecessary.