Insight Powers Time Warner Cable Q4

Basic video losses improve

By Mike Farrell, Multichannel News -- Broadcasting & Cable, 1/31/2013 9:03:33 AM

Time Warner Cable reported stronger than expected earnings on Thursday morning, fueled mainly by its December acquisition of Insight Communications.

Revenue for the second largest cable operator in the country rose 9.9 % to $5.5 billion and operating income before depreciation and amortization (OIBDA) was up about 10.1% in the fourth quarter. For the full year, revenue increased 8.7% and OIBDA was up 8.3%.

Not including the December Insight acquisition, revenue grew 4.2% to $5.2 billion and OIBDA was up 5.6% to about $2 billion in the quarter.

In a statement, TWC chairman and CEO Glenn Britt attributed the increased to the Insight acquisition and strong showings in advanced services and on the advertising front. TWC reported ad revenue of $313 million in the quarter, up 20%

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