TIME WARNER CABLE INC (TWC, Financial) filed Quarterly Report for the period ended 2010-03-31.
Time Warner Cable Inc has a market cap of $18.73 billion; its shares were traded at around $53.13 with a P/E ratio of 15.9 and P/S ratio of 1.1. The dividend yield of Time Warner Cable Inc stocks is 3%.TWC is in the portfolios of Dodge & Cox, HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC, Murray Stahl of Horizon Asset Management, Paul Tudor Jones of The Tudor Group, Kenneth Fisher of Fisher Asset Management, LLC, Jim Simons of Renaissance Technologies LLC, Bruce Kovner of Caxton Associates, Steven Cohen of SAC Capital Advisors, Jean-Marie Eveillard of Arnhold & S. Bleichroeder Advisers, LLC, Jeremy Grantham of GMO LLC, Charles Brandes of Brandes Investment, George Soros of Soros Fund Management LLC.
Management believes that cash generated by or available to TWC should be sufficient to fund its capital and liquidity needs for the foreseeable future, including quarterly dividend payments. As of March 31, 2010, the Company had approximately $6.1 billion of unused committed capacity (including cash and equivalents). Additionally, there are no maturities of the Companys long-term debt prior to the February 2011 maturity of the Companys $5.875 billion senior unsecured five-year revolving credit facility (the Revolving Credit Facility), which, as of March 31, 2010, supported outstanding borrowings of $5 million under the Companys commercial paper program. The Company expects to enter into a new revolving credit agreement prior to the maturity of the current Revolving Credit Facility. See Financial Condition and Liquidity for further details regarding the Companys committed capacity.
On March 15, 2010, the Company paid a quarterly cash dividend of $0.40 per share on TWC common stock, to stockholders of record at the close of business on February 26, 2010, totaling $144 million. On April 26, 2010, the Companys Board of Directors declared a quarterly cash dividend of $0.40 per share on TWC common stock, payable in cash on June 15, 2010 to stockholders of record at the close of business on May 28, 2010.
For the three months ended March 31, 2010, residential subscription revenues increased 4.1% to $4.172 billion and commercial subscription revenues increased 19.2% to $254 million. Total subscription revenues increased 4.9% as a result of increases in video, high-speed data and voice revenues.
The increase in video revenues was primarily due to video price increases, the continued growth of digital video subscribers and an increase in revenues from digital video recorder service, which were partially offset by a decrease in video subscribers. Commercial video revenues were $64 million and $60 million for the three months ended March 31, 2010 and 2009, respectively. Additional information regarding the major components of video revenues was as follows (in millions):
High-speed data revenues increased primarily due to growth in high-speed data subscribers and, to a lesser extent, increases in high-speed data prices and cell tower backhaul and Metro Ethernet revenues. Commercial high-speed data revenues were $164 million and $140 million for the three months ended March 31, 2010 and 2009, respectively.
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Time Warner Cable Inc has a market cap of $18.73 billion; its shares were traded at around $53.13 with a P/E ratio of 15.9 and P/S ratio of 1.1. The dividend yield of Time Warner Cable Inc stocks is 3%.TWC is in the portfolios of Dodge & Cox, HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC, Murray Stahl of Horizon Asset Management, Paul Tudor Jones of The Tudor Group, Kenneth Fisher of Fisher Asset Management, LLC, Jim Simons of Renaissance Technologies LLC, Bruce Kovner of Caxton Associates, Steven Cohen of SAC Capital Advisors, Jean-Marie Eveillard of Arnhold & S. Bleichroeder Advisers, LLC, Jeremy Grantham of GMO LLC, Charles Brandes of Brandes Investment, George Soros of Soros Fund Management LLC.
Highlight of Business Operations:
During the fourth quarter of 2009, TWC began launching Road Runner MobileTM, a wireless mobile broadband service, in several cities and expects to continue the roll-out during 2010. The Company estimates that it will incur start up losses of approximately $50 million during 2010 in connection with the deployment of this service, of which approximately $5 million were incurred during the first quarter of 2010.Management believes that cash generated by or available to TWC should be sufficient to fund its capital and liquidity needs for the foreseeable future, including quarterly dividend payments. As of March 31, 2010, the Company had approximately $6.1 billion of unused committed capacity (including cash and equivalents). Additionally, there are no maturities of the Companys long-term debt prior to the February 2011 maturity of the Companys $5.875 billion senior unsecured five-year revolving credit facility (the Revolving Credit Facility), which, as of March 31, 2010, supported outstanding borrowings of $5 million under the Companys commercial paper program. The Company expects to enter into a new revolving credit agreement prior to the maturity of the current Revolving Credit Facility. See Financial Condition and Liquidity for further details regarding the Companys committed capacity.
On March 15, 2010, the Company paid a quarterly cash dividend of $0.40 per share on TWC common stock, to stockholders of record at the close of business on February 26, 2010, totaling $144 million. On April 26, 2010, the Companys Board of Directors declared a quarterly cash dividend of $0.40 per share on TWC common stock, payable in cash on June 15, 2010 to stockholders of record at the close of business on May 28, 2010.
For the three months ended March 31, 2010, residential subscription revenues increased 4.1% to $4.172 billion and commercial subscription revenues increased 19.2% to $254 million. Total subscription revenues increased 4.9% as a result of increases in video, high-speed data and voice revenues.
The increase in video revenues was primarily due to video price increases, the continued growth of digital video subscribers and an increase in revenues from digital video recorder service, which were partially offset by a decrease in video subscribers. Commercial video revenues were $64 million and $60 million for the three months ended March 31, 2010 and 2009, respectively. Additional information regarding the major components of video revenues was as follows (in millions):
High-speed data revenues increased primarily due to growth in high-speed data subscribers and, to a lesser extent, increases in high-speed data prices and cell tower backhaul and Metro Ethernet revenues. Commercial high-speed data revenues were $164 million and $140 million for the three months ended March 31, 2010 and 2009, respectively.
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