Time Warner Cable (TWC) unveiled its fourth quarter 2014 financials on Thursday morning before the stock markets opened, reporting earnings of $2.03 per share (EPS) on $5.79 billion in revenue.
The performance fell below Wall Street’s projections. According to TheStreet, the consensus estimate predicted Q4 earnings would be around $2.09 per share on revenue of $5.81 billion. Zack’s had forecasted a penny more per piece of stock.
The silver lining: Both measurements were up from 2013’s fourth quarter, when Time Warner Cable reported earnings per share of $1.82 on $5.577 billion in revenue.
TWC cited a spike in several subscriber measurements: gaining net additions of 168,000 in high-speed data subscribers; 295,000 subscribers in residential voice, and a gain of 67,000 in total customer relationships.
CEO Rob Marcus reported a strong finish to the year while noting he expects a Comcast merger imminently.
“Our fourth quarter marked a strong finish to a really positive year for Time Warner Cable,” Marcus said. “As a result of record Q4 subscriber net adds and the investments we made all year in our plant, products and customer care, we enter 2015 with tremendous operating momentum. We continue to expect the Comcast merger to close soon; until then, we remain one hundred percent committed to executing our plan.”
The company’s quarterly earnings call kicked off at 8:30 a.m. ET on Thursday. Marcus noted gains in some of the aforementioned subscriber numbers. When asked for updated on the TWC/Comcast Merger, other executives said they had nothing to say at this time.