Time Warner just reported first quarter revenues of $5.48 billion, up 6.6% on last year and net income of $401 million--up on last year's $382 million. But the company's figures missed analyst expectations on revenues.
The company only added 143,000 new high speed data customers to its service compared to the 181 that analysts had been expecting. It also lost 119 customers for its residential video services, higher than the 91,000 that analysts had predicted.
The figures are telling, because they demonstrate that U.S. TV customers really may be "cutting the cable" and finding alternative TV content sources. They're also not buying TWC's data services as an alternative to simple cable TV, though the reasons why are unexamined right now. In January we learned that TWC uses big data efforts to track its customers and maintain its revenues.
TWC's news comes in contrast to new media rival Netflix's recent stats which saw the company achieving a billion dollar revenue in the first quarter and reaching 29.2 million U.S. subscribers.