Time Warner Cable Q4 Revenue Up
Time Warner Cable is somewhat of anomaly among ISPs. It’s one of the few national Internet providers that doesn’t have a wireless business, like Verizon or AT&T. Despite not having that very lucrative revenue stream, it did pretty well for itself in its fourth quarter.
Time Warner Cable announced that its revenue for Q4 2013 grew 1.7 percent to $5.6 billion. Most of its revenue from its mostly stagnant residential services division which only grew 0.1 percent and pulled in $4.6 billion. Its business services division saw more impressive growth of 19.6 percent to $616 million while its advertising revenue declined 11.2 percent to $278 million.
“I’m really excited about the progress we made in Q4 and the significantly better trends we’re driving as we enter 2014,” said Time Warner Cable Chairman and CEO Rob Marcus. “We are geared up to manage this company for the long haul. We’ve got the right assets and a talented, passionate and motivated team aligned around a thoughtful plan. We are executing well and we’ve started the year with meaningful operating momentum.”
As for its full fiscal year, Time Warner reports that it made $22.1 billion in revenue in 2013. It notes that this is an increase of 3.4 percent from last year thanks to an annual increase in business and residential services customers.
Speaking of residential services, Time Warner Cable boasts to now have 910,000 high speed data subscribers. It defines high speed data subscribers as anybody who subscribes to its 30Mbps or higher plans, but its 100 Mbps plan is still only available in a select few cities.
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