TWC Q1: Revenue Up, Video Subs Down

According to Time Warner Cable's financial results for its first quarter ended March 31, revenues increased 6.4% from the first quarter of 2011 to $5.1 billion. Residential services revenues increased 4.1% year-over-year to $4.4 billion, business services revenues grew 37.5% to $429 million, while advertising revenues increased 7.1% to $211 million and other revenues grew 3.4% to $61 million.Revenues for Q1 benefited from the acquisitions of Insight Communications, several NewWave Communications cable systems and NaviSite.The MSO added 232,000 residential primary service units, for a total of 28,129,000, despite shedding 94,000 residential video subscribers. Business services subs were up 261,000, to 28,918,000.