Time Warner Cable, still months away from closing on its $78.7 billion merger with Charter Communications, continues to rack up strong results, dramatically reducing basic video subscriber losses and reporting its first positive customer relationship growth since 2008.
The cable giant lost about 45,000 basic video customers in the quarter, a big improvement over the 152,000 it shed in the same period last year. High-speed data additions of 172,000 (best Q2 since 2008) and 252,000 (best Q2 ever) additional phone customers helped drive overall customer relationships to 14.8 million, an increase of 66,000.
“We delivered very strong operational results in the second quarter, providing yet another clear indication that our plan is working,” TWC chairman and CEO Rob Marcus said in a statement. “We achieved record Q2 subscriber results across nearly every category, setting us up for accelerating financial performance as we look forward to the next phase of our plan. We intend to use the time between the signing and closing of the Charter deal to further strengthen our operations.”