Time Warner Cable beats by $0.10, reports revs in-line
Reports Q1 (Mar) adj. earnings of $1.78 per share, $0.10 better than the Capital IQ Consensus Estimate of $1.68; revenues rose 2.0% year/year to $5.58 bln vs the $5.64 bln consensus, 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.
- 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.
- "I'm very pleased with our performance this quarter. Our residential subscriber growth was the best in five years and our business services revenue growth was close to 25 percent. These results underscore our commitment to deliver on our financial and operating plan as we prepare for our merger with Comcast."