Latest Headlines on OCRegister.com
[x] Close
The Gadgetress ~ TV, mobile and Internet: Covering technology's monthly bill

Archive for the 'TWC earnings' Tag

How much money did Time Warner make last year? $1.1 billion

January 28th, 2010, 1:59 pm by

Time Warner Cable photo, courtesy of AP.$1.1 billion — that’s how much Time Warner Cable (TWC) made in 2009.

That’s net income, not revenues. It compares to 2008′s abysmal loss of $7.3 billion, due to unusual losses like a $14.8 billion non-cash charge it took for the declining value of its cable franchise rights. Revenues for 2009  grew 3.9 percent from 2008 to $17.9 billion, thanks to an increase in DVR service customers, higher video prices and more digital cable subscribers.

Business in 2009 was much better for the cable TV provider. Even though it continued to lose basic cable customers — it lost another 105,000 of them during fourth quarter — Time Warner added more lucrative customers who ordered multiple services such as phone and high-speed Internet. Read the rest of this entry »

Posted in: Video & TV • • • • • • | 10 Comments »

Time Warner loses 84,000 customers, makes less money

November 5th, 2009, 7:53 am by

Time Warner Cable signIt was another rough quarter for Time Warner Cable, which lost TV customers, posted lower profits and saw a drop in premium channel subscriptions. It lost 84,000 video customers by the end of the third quarter, ended Sept. 30, compared with the second quarter.

But in almost all other areas, the cable TV provider grew: It added more Internet and phone customers, more digital cable customers and more multi-package customers. That helped offset the exodus of video subscribers to a loss of 25,000 customers. Overall sales were up 4 percent, to $4.5 billion, compared with $4.3 billion last year.

The company has been losing video customers as new TV services like Verizon FiOS and AT&T U-verse enter the market and customers head for the Web to view TV shows on their own time.

2Q 2008 3Q 2008 4Q 2008 1Q 2009 2Q 2009 3Q 2009
TW video
subscribers		 13,297k 13,266k 13,069k 13,105k 13,048k 12,964k
Change -31,000 -197,000 36,000 -57,000 -84,000

While the number of customers fell less than 1 percent, to 14.652 million subscribers, Time Warner got a bit more money from each one. Subscription revenues grew 5 percent, to $4.3 billion, thanks to more digital video, Internet and phone customers. Separating out video alone, Time Warner made 2 percent more off TV subscribers, coming in at $2.698 billion in the third quarter, compared with $2.639 billion a year earlier.

Still, Time Warner made less money than it did a year ago. Net income fell 11 percent, to $258 million, compared with $301 million a year earlier. Part of that was because it had to pay more for the TV channels it offers customers. The cost of video programming grew 6 percent, to $1 billion. In the first 9 months this year, Time Warner spent a whopping $3 billion in programming fees, up 7 percent from last year (see its quarterly filing, page 8).

Meanwhile, more customers dropped basic video and premium channel subscriptions.

In the chart below, Time Warner notes that about 13 million pay for plain-ol’ cable TV service. About two-thirds also pay for digital cable and high-speed Internet. Read the rest of this entry »

Posted in: Video & TV • • • • • • | 55 Comments »

Time Warner Cable losing basic, premium subscribers

July 29th, 2009, 9:04 am by

Time Warner CableOur favorite cable TV company released its second-quarter earnings report this morning and its CEO is pleased.

Time Warner Cable continued to make more money, netting income of $316 million in the three months, ending June 30. In the same time last year, it made $277 million. Sales also grew 4 percent, or $176 billion, to $4.5 billion in the three months.

Nearly every segment of Time Warner grew — subscriptions were up 6 percent to $4.3 billion, video revenues grew 3 percent to $2.7 billion, Internet revenues were up 9 percent to $1.1 billion, and digital phone revenues were up 19 percent to $471 million.

The only areas that declined were basic and premium video subscribers and advertising, which was down a hefty 25 percent to $174 million. (And no wonder! One premium channel is $15 a month. And if you order all five premiums, that adds $53 to your monthly bill.)

If you’re scowling at this report because your cable bill went up this year, Time Warner said that its costs have risen, too. Video programming expenses, which include the per-subscriber fees paid to TV networks for the right to broadcast their channels, jumped 7 percent to $1 billion.

Read the rest of this entry »

Posted in: Video & TV • • • • | 22 Comments »

Time Warner Cable losing lots of money, cuts jobs

February 4th, 2009, 12:33 pm by

By pushing digital TV to customers and raising prices, Time Warner Cable made a bit more money last year than the previous year. Revenues rose 8 percent to $17.2 billion.

But cable customers who are feeling the pinch on their own wallet shouldn’t get irate just yet. After taxes and other costs, the nation’s second largest cable TV company posted a $7.3 billion net loss for the year, compared to a profit of $1.1 billion in the prior year. To eliminate costs, Time Warner plans to cut 1,250 jobs, or 3 percent of its workforce. 

A huge chunk of the $7.3 billion loss occurred in the fourth quarter last year, when Time Warner realized its assets were worth about $15 billion less than it thought. Other contributions to the heavy loss: $367 million for its investment in Clearwire Corp., $14 million to separate from parent Time Warner expected in March and a $13 million loss on the sale of cable systems. For the fourth quarter, ended Dec. 31, the company reported a net loss of $8.2 billion, or $8.36 per share.

Minus those, Time Warner Cable had a net income of 23-cents per share. 

Time Warner Cable’s CEO Glenn Britt acknowledged that the company isn’t immune to the down economy – it lost 119,000 basic-video subscribers during the quarter. He said, “… We remain confident that our strong subscription relationships will enable us to weather these pressures better than many businesses.”

Time Warner Cable is splitting off from parent company Time Warner at the end of March. Read Time Warner Cable’s fourth-quarter and full-year 2008 financial report HERE.

Time Warner Cable snapshot Dec. 2008 3Q to 4Q change
Basic video subscribers 13,069,000 -119,000
Digital video subscribers 8,627,000 44,000
Internet subscribers 8,444,000 124,000
Digital phone subscribers 3,747,000 130,000

Recent headlines:

Posted in: Video & TV • • • • • | 6 Comments »

SEO Powered by Platinum SEO from Techblissonline