Oct
27
Time Warner Cable Loses Cable, VoIP Customers – Earnings Miss Most Wall Street Estimates
Time Warner Cable posted their third quarter earnings this morning, the company missing most Wall Street analyst predictions with income that dropped to $356 million from $360 million. The erosion of basic cable customers continued, with Time Warner Cable losing 128,000 residential video subscribers in the quarter, but offsetting those losses slightly with the addition of 89,000 residential broadband customers. Interestingly, Time Warner Cable took their worst hit on record in terms of VoIP, losing 8,000 subscribers on the quarter. Time Warner Cable's losses are courtesy of increased competition from Verizon FiOS, continued high price offering during touchy economic times, and cord cutting -- the latter being something Time Warner Cable has consistently downplayed.
read comment(s)
Original story here.