TIME WARNER CABLE REPORTS 2012 FOURTH-QUARTER AND
TIME WARNER CABLE REPORTS 2012 FOURTH-QUARTER AND FULL-YEAR RESULTS
Release Date: 01/31/2013
NEW YORK, NY – Time Warner Cable Inc. (NYSE: TWC) today reported financial results for its fourth quarter and full year ended December 31, 2012.
Time Warner Cable Chief Executive Officer Glenn Britt said: “We delivered revenue growth of almost 9% in 2012 – powered by our acquisition and successful integration of Insight Communications, continued success in residential high-speed data and business services, and a best-ever year in advertising. In the year ahead, we plan to focus on operational excellence as we invest to capture long-term opportunities and drive profitable growth.”
FINANCIAL RESULTS
Revenue for the fourth quarter of 2012 increased 9.9% from the fourth quarter of 2011 to $5.5 billion. Residential services revenue increased 6.8% year-over-year to $4.6 billion, business services revenue grew 25.9% to $515 million, advertising revenue increased 29.3% to $313 million and other revenue grew 37.9% to $80 million.
Full-year 2012 revenue increased 8.7% year-over-year to $21.4 billion. Residential services revenue grew 6.3% year-over-year to $18.2 billion, business services revenue increased 29.4% to $1.9 billion, advertising revenue increased 19.7% to $1.1 billion and other revenue increased 10.3% to $257 million.