Time Warner Cable Loses More Basic Cable Subscribers
But Keeps Earnings Afloat With Continued TV, VoIP Growth
Yesterday Comcast announced they'd lost 176,000 cable subscribers on the quarter
, fewer than analysts had expected. Time Warner Cable's earnings
, released today, indicate Time Warner Cable lost 169,000 basic video subscribers during the second quarter, more than analysts expected. Fortunately for Time Warner Cable, the company still saw net income of $452 million after revenues of $5.4 billion, thanks to the addition of 59,000 broadband and 45,000 voice subscriptions. Despite the company's claims that flat rate broadband pricing wasn't sustainable
, there continues to be no evidence of that in company earnings, profits seeing a 7.6% jump on the quarter.