Business services, high-speed internet help keep cable giant's revenue growing
Time Warner Cable, which serves a large portion of the Tri-State area, reported its second quarter results on Thursday morning.
For the second three months of 2013, the cable giant — which completed the integration of Insight into the company during the quarter — saw a 2.7% uptick in total revenue. That small gain was driven by larger gains in revenue from its business services operation (which was up 21.8%) and from residential high-speed data (up 12.5%).
Declines in revenue were again seen from the company's video and voice sectors, which were down 4.4% and 4.1%, respectively.
“Time Warner Cable continues to build significant shareholder value by investing in rapidly expanding Business Services and by revitalizing our Residential Services operations,” said Glenn Britt, Chairman and CEO. “I am pleased with our progress in operations and expect to see the benefits in the second half of the year and in 2014.”