Twc Fewer Subscribers, Greater Profits
Time Warner Cable saw a 44-percent increase in its net income during the last quarter despite the fact that it lost 129,000 customers and its gross revenue rose only 4 percent. The rise in profits was attributed to cheaper-to-operate Internet and telephone services as well as existing subscribers to its video service opting for more expensive HDTV packages. For all of 2011, the company lost a total of 453,000 subscribers, but continued to retain 11.89 million. In a statement, Time Warner Cable chief Glenn Britt said that the "results demonstrate the continued strength of our business amidst rapid change in technology and the consumer marketplace."