Time Warner Cable misses by $0.05, reports revs in-line -- expects the Comcast merger to close soon;
Reports Q4 (Dec) earnings of $2.03 per share, excluding non-recurring items, $0.05 worse than the Capital IQ Consensus of $2.08; revenues rose 3.8% year/year to $5.79 bln vs the $5.81 bln consensus.
- Adjusted OIBDA for the fourth quarter and full year of 2014 increased 5.6% and 3.1%, respectively, driven by revenue growth, partially offset by year-over-year increases in operating expenses of 2.8% and 3.1%, respectively.
- Fourth-quarter subscriber performance in each category below was the best in at least seven years. Total customer relationship net additions of 67,000 Residential high-speed data net additions of 168,000 Residential voice net additions of 295,000 -- best fourth quarter ever Residential video net declines of 38,000 Residential triple play net additions of 273,000 -- best fourth quarter ever.
- "We continue to expect the Comcast (CMCSA) merger to close soon; until then, we remain one hundred percent committed to executing our plan."