(Corrects paragraph 2 to say subscriber additions were highest
since the first quarter 2008, not 2012)
April 24 Time Warner Cable Inc, the
second-largest U.S. cable operator, reported first-quarter
profit above analysts' estimates as it added more residential
subscribers than expected for its high-speed data services.
The company said it added 269,000 residential high-speed
data subscribers on a net basis - highest since the first
quarter of 2008. Analysts had expected the company to add
179,300 subscribers, according to StreetAccount.
The company, which is in the middle of a $45.2 billion
acquisition by Comcast Corp, lost 34,000 residential
video subscribers in the first quarter on a net basis, fewer
than the 77,300 analysts had expected.
Time Warner Cable's quarterly profit jumped 19.5 percent to
$479 million, or $1.70 per share, in the first quarter ended
Excluding items, earnings were $1.78 per share, topping the
analyst estimate of $1.68 per share, according to Thomson
Revenue rose 2 percent to $5.58 billion. Analysts were
expecting $5.64 billion.
Time Warner Cable's shares closed at $139.87 on Wednesday on
the New York Stock Exchange.
(Reporting by Aurindom Mukherjee & Soham Chatterjee; Editing by
Joyjeet Das and Saumyadeb Chakrabarty)