Search for "SEC Live Filings Digest" to find out more.
Time Warner Cable Inc. (TWC) reported the greatest loss of subscribers this quarter, as the company announced its quarterly financial results. Partly attributed to a debate with CBS Corporation over fees, Time Warner lost 306,000 subscribers, a loss more severe than anticipated. The abrupt decline affirms that when consumers lose certain channels they will quickly change, a move that Time Warner was not expecting would be so sudden. Despite the drop in subscribers, revenue improved 2.9% to $5.52B, thanks largely to its new business category called business services. Earnings fell sharply from $808M and $2.60 a share from a year ago to $532M and $1.84 per share.