Thursday, August 1, 2013

Time Warner Cable Now Has 19,000 Wi-Fi Access Points

Time Warner Cable posted Q2 revenue of $5.6 billion, up 2.7% YoY.  Residential services revenue increased 0.3% to $4.6 billion and business services revenue grew 21.8% to $565 million, while advertising revenue decreased 1.9% to $260 million and other revenue grew 60.3% to $93 million. Net income was $481 million, or $1.65 per basic common share and $1.64 per diluted common share, for the second quarter of 2013 compared to $452 million, or $1.44 per basic common share and $1.43 per diluted common share, for the second quarter of 2012.


Some operational notes from the company's quarterly financial report:

  • The growth in residential high-speed data revenue was the result of an increase in average revenue per subscriber, primarily due to an increase in equipment rental charges and a greater percentage of subscribers purchasing higher-priced tiers of service, as well as growth in high-speed data subscribers.
  • Residential video revenue decreased driven by declines in video subscribers and transactional video-on-demand revenue, partially offset by price increases and a greater percentage of subscribers purchasing higher-priced tiers of service.
  • Residential voice revenue decreased due to a decline in average revenue per subscriber and lower voice subscribers.
  • Video programming expenses grew 3.7% to $1.2 billion due to an increase in average monthly video programming costs per video subscriber, offset in part by a decline in video subscribers. Average monthly video programming costs per video subscriber increased 8.5% year-over-year to $33.54 for the second quarter of 2013, primarily driven by contractual rate increases and the carriage of new networks, partially offset by a decline in transactional video-on-demand.
  • Average monthly revenue per residential customer relationship (ARPU) grew 1.2% to $105.21.
  • Capital expenditures in the first half totaled $1.6 billion, consistent with the Company’s plans for full-year capital spending of $3.2 billion.
  • Residential wideband high-speed data subscribers (which includes the 30, 50, 75 and 100 Mbps tiers) more than doubled year over year to 608,000 subscribers.
  • The company continued to make progress with its Wi-Fi initiative; Aggressive deployment in New York City increased total access points to 19,000.
  • Time Warner Cable has IntelligentHome available in approximately 80% of its footprint and has 24,000 customers. Second quarter net additions were the strongest since its launch.
  • Business services reached a milestone in the quarter, delivering backhaul service to more than 10,000 cell towers.

http://ir.timewarnercable.com/investor-relations/

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