Time Warner’s cable systems and networks shined during the first quarter as other divisions posted mixed results.
For the three months ended March, Time Warner Cable increase revenues 10% to $2.2 billion and increased operating cash flow by 9% to $848 million.
The networks division – including Turner Broadcasting, HBO and WB – posted a weak 4% increase in revenues to $2.3 billion but a sharp 15% gain in profits to $787 million.
Strength at the cable systems stems in large part from high-speed data’s continuing success.
At the networks, the company sold two of its sports teams, which had been losing money. But Turner Broadcasting’s basic cable networks also generated audience gains and stronger license-fee growth than expected.
Time Warner’s companywide revenues grew a meager 3.5% to $10.5 billion, though operating cash flow increased 11% to $2.6 billion.