Time Warner Cable, Inc. (TWC) Tops Q1 EPS by 2c

Time Warner Cable, Inc. (NYSE: TWC) reported Q1 EPS of $1.70, $0.02 better than the analyst estimate of $1.68. Revenue for the quarter came in at $5.58 billion versus the consensus estimate of $5.64 billion.

HIGHLIGHTS

Financial Highlights

• First-quarter 2014 revenue grew 2.0% year over year, driven primarily by growth of 24.4% in business services revenue and 10.8% growth in residential high-speed data revenue.
• Adjusted OIBDA increased 3.6% to nearly $2.0 billion. Operating Income increased 3.0% to nearly $1.1 billion.
• Adjusted Diluted EPS increased 26.2% to $1.78. Diluted EPS increased 26.9% to $1.70.
• First-quarter 2014 average monthly revenue per residential customer relationship (ARPU) grew 0.6% to $105.45. Residential high-speed data ARPU increased 8.7% to $46.32.

Operational Highlights

• Overall first-quarter residential subscriber performance was the best in five years.
  • Residential customer relationship net additions of 148,000 – most in over seven years
  • Residential triple play net additions of 82,000 – most since first quarter 2012
  • Residential high-speed data net additions of 269,000 – most since first quarter 2008
  • Residential voice net additions of 107,000 – most since first quarter 2012
  • Residential video net loss of 34,000 – least in five years
• “TWC Maxx” rollout, including high-speed data speed increases to as much as 300 Mbps, has now begun in parts of New York City and Los Angeles.
• TWC’s cloud-based guide with an advanced VOD portal was installed on 4.3 million set-top boxes at the end of the first quarter.
• IntelligentHome net additions of 13,000 marked the best quarter ever; 57,000 customers at the end of the first quarter.

For earnings history and earnings-related data on Time Warner Cable, Inc. (TWC) click here.

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