NEW YORK (AP) — Time Warner Cable Inc. said Thursday that its second-quarter earnings rose 6 percent, helped by higher revenue from business services and residential high-speed data services.
Its adjusted earnings surpassed Wall Street's expectations and shares rose more than 3 percent in morning trading.
But the nation's second-largest cable company lost home cable TV and phone subscribers, ending the quarter with fewer customers than at the end of March. The New York-based company lost 191,000 cable TV subscribers in the quarter, ending with 11.7 million. And it lost 56,000 voice subscribers, ending with close to 5 million at the end of June. Cable TV subscriptions have been declining across the industry for years, as viewers shift to satellite and phone-company TV services.
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