Time Warner Cable uplift
May 3, 2010
Time Warner Cable's first-quarter net income rose to $214 million, compared with $164 million a year earlier. Free cash flow rose 78 per cent, to $652 million, as it lowered capital spending.
Revenue rose 5.4 per cent, to $4.6 billion, during the quarter. The cable company was also helped by a rebound in advertising sales, which rose 19.3 per cent, to $173 million. The company said it was confident it would meet its goal of a 15 per cent rise in ad sales this year.
Landell Hobbs, the chief operating officer of Time Warner Cable, said that the company had added twice as many high-speed Internet customers as AT&T and Verizon combined in the first quarter.
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