Thursday, 15 September 2011

Time Warner Cable performed better with subscriber additions in August than it had expected, and the MSO should perform well during the fourth quarter, CEO Glenn Britt said Wednesday.

"We're doing a lot better than we thought back in the second quarter," Britt said at a Bank of America investor conference.

But Britt said the company would post a "relatively low number" in the third quarter. "And the fourth quarter is going to be relatively higher, the best of the year. The year is going to be OK," he added, according to Multichannel News.

Time Warner Cable lost 130,000 basic video customers during the second quarter, ending the period with 12.1 million subscribers.

Britt's comments saw Time Warner Cable stock surge on Wednesday. It closed at $64.65, up $2.67, or 4.3 percent for the day.