OneTRAK - TWC revenue rises 4%, RGU additions light

TWC revenue rises 4%, RGU additions light

Thursday, November 05, 2009

By: Matt Stump

Time Warner Cable posted a 4% increase in revenue and adjusted OIBDA despite a sharp drop in RGU additions in Q3 '09 results.

Revenue rose to $4.5 billion from $4.34 billion, and adjusted OIBDA reached $1.62 billion from $1.56 billion. Operating income rose 5% from $788 million to $828 million.

The MSO lost 84,000 basic subscribers, versus a loss of 31,000 a year ago.

HSD and phone additions were light, with 117,000 data additions, versus 214,000 a year ago and 62,000 phone additions versus 200,000 a year ago.

Digital additions fell from 124,000 to 8,000, although the company posted solid gains in DVR and HD additions.

Total RGUs reached 117,000, versus 522,000 a year ago. The company added 204,000 RGUs in Q2 '09. While data additions improved sequentially, basic video, digital and phone additions were lower in Q3 versus Q2.

TWC added 57,000 DVR and 225,000 HD subscribers in the quarter, versus gains of 150,000 and 353,000 a year ago. That helped boost ARPU from $108.03 to $115.30 per month.

The number of subscribers in triple play bundles rose to 23.2% and double play subs rose to 33.3%.

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