Oct 31 Time Warner Cable Inc, the second
largest U.S. cable operator, posted a 34 percent drop in
quarterly profit as it lost more video customers than analysts
had expected when it blacked out No. 1 broadcaster CBS Corp
for a month.
Time Warner lost 304,000 video customers on a net basis in
the third quarter. Wall Street was expecting it to lose 182,100,
according to research firm StreetAccount.
CBS went dark on Time Warner Cable systems on Aug. 2 in New
York, Los Angeles, Dallas and other cities as the companies
bickered over content carriage fees.
The network returned when the two sides settled their
differences on Sept. 2.
Net income attributable to Time Warner Cable dropped to $532
million, or $1.84 per share, in the third quarter from $808
million, or $2.60 per share, a year earlier.
Revenue rose about 3 percent to $5.52 billion.