Looks like the economy is still falterning for some companies in the United States these days. Time Warner Cable Incorporated revealed its third-quarter earnings this year dropped to one percent due to the higher expenses they incurred. Despite the drop of its earnings, the second largest cable company in the US still remain upbeat of its business especially that their clients continues to rise.
CEO Glenn Britt said they have increased their subscribers in August and September this year. Britt said if not for their higher operating expenses their revenues could have increased this year. Based on the data gathered by the cable compan y, their net income fell from $360 million in the third quarter last year to only $356 million this year.
He said the company remain happy since their residential services revenue climbed 2 percent to $4.3 billion. He added that their business services revenue also jumped 35 percent to $387 million. The American cable television company operates in 28 states and has 31 operating divisions. Its corporate headquarters are located in the Time Warner Center in Midtown Manhattan, New York City, with other corporate offices in Cambridge, Massachusetts; Columbus, Ohio; Buffalo, New York; Charlotte, North Carolina; and Herndon, Virginia.