Skip to content
Subscriber Only

Time Warner Cable Earnings Fall Short as Comcast Deal Ends

Bloomberg business news

Time Warner Cable Suffers First-Quarter Profit Miss

Updated on

Time Warner Cable Inc., whose merger with Comcast Corp. was called off last week, posted first-quarter profit that missed analysts’ estimates because of higher TV programming costs as investors wait for its next move.

First-quarter earnings were $1.65 a share, the New York-based cable company said Thursday, trailing the $1.88 average of estimates compiled by Bloomberg. Although sales also came in short, Time Warner Cable reported its first increase in cable subscribers since 2009 and the highest number of Internet subscribers since 2007. Paul Sweeney, an analyst at Bloomberg Intelligence, said the gains suggested “that operational improvements are successfully underway.”