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Time Warner Cable missed on earnings due to lower subscriptions. CEO Robert Marcus reported the merger with Comcast was going “somewhat more slowly” than expected. Residential video fell 4%. The company missed revenue expectations by $40 million.
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According to a press release, Robert Marcus said, “We are executing well, against our plan, with solid financial performance and strong subscriber momentum. We continue to expect the Comcast merger to close by 2015. ”
There were bright spots in the quarter, with data revenue up and more high speed data additions. Stocks of Comcast and Time Warner were up on the approval of the merger, but shares were seen as vulnerable on potential disappointments by either company.
