Time Warner Cable profits beat expectations as company reverses tide of declining subscriber numbers

 
Caitlin Morrison
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Time Warner Profits Rise 14 Percent
The firm grew its customer base in the last quarter (Source: Getty)

Time Warner Cable (TWC) posted a better than expected profit of $486m (£338m) for the fourth quarter of 2015, down from $554m in the same quarter of 2014.

Revenue rose by 4.9 per cent to $6.07bn during the final three months of last year, up from $5.79bn the year before.

The group, which is being bought by John Malone-backed cable group Charter Communications, added 54,000 more residential video customers, in contrast to the previous quarter, which saw the firm lose 7,000 video subscribers.

TWC and other cable companies have struggled to maintain customer numbers in the face of increased competition from online streaming services such as Netflix.

Meanwhile, high-speed data subscriber additions rose by 21 per cent to 281,000 between the third and final quarter of 2015.

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