Time Warner Cable beat the Street with its second-quarter earnings, posting a 14 percent uptick in income, with voice revenue its fastest growing business.
That said, subscriptions were weak: the cableco added just 150,000 net subscribers – a trend executives said will likely continue in the face of the recession and fierce competition.
TWC, recently spun out from Time Warner Inc., posted $316 million in earnings (up from $277 million a year ago), with a per-share profit of 91 cents that handily exceeded analysts’ estimates of 79 cents per share.
Top-line revenue came in at almost $4.5 billion, up 4 percent year over year.
Despite lowering pricing, voice revenue rose 19 percent to $471 million, making it the big growth winner for the company.
Cable TV revenue grew 3 percent to $2.7 billion, and Internet services rose 9 percent to $1.1 billion.
Despite the profit, TWC shares were trading down 4 percent in afternoon trading on Wednesday.
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