Time Warner Cable fell short of expectations in its earlings report for the third quarter, Deadline.com reports. TWC, the second-largest cable operator, posted earnings of $1.09 per share, short of analysts’ projection of $1.14.
Residential video subscriptions fell by 128,000 during the period to end at 11.9 million.
Net income of $356 million represented a decline of 1.1% from the same period a year ago, the story adds. Revenues were up 3.7% to $4.9 billion.
On the positive side, broadband subscriptions were up 9.2% to 9.8 million. Residential phone subscriptions, however, fell by 8,000 to 4.5 million, according to the report.
The story notes: “The company says that the drop in subs as well as in revenues from premium channels and transactional VOD outweighed the additional cash the company saw from price increases and payments for installation charges and DVR services.”