Time Warner Cable Reports Best Fourth-Quarter Performance in Years
The cable giant, set to be acquired by Comcast, is led by CEO Rob Marcus and lost fewer pay TV customers in the period than in the year-ago quarter
Time Warner Cable on Thursday said it lost 38,000 residential pay TV subscribers in the fourth quarter, compared with 85,000 in the year-ago period.
It touted its best fourth-quarter subscriber performance in at least seven years across all business lines. Total customer relationship net additions came in at 67,000.
The company, whose $45 billion deal to be acquired by Comcast is being reviewed by regulators, ended 2014 with nearly 10.83 million residential video subscribers and more than 11.5 million residential broadband customers.
TW Cable, led by CEO Rob Marcus, has said it continues to expect Comcast's acquisition of the firm to be completed in early 2015.
The cable giant on Thursday reported earnings of $2.03 per share, below Wall Street estimates. Revenue rose 3.8 percent to $5.79 billion.