Time Warner Q1 profit up 59% on Cable TV unit

Time Warner's profit for the first quarter of 2006 rose 59 percent to $1.46 billion and revenue rose 1 percent to $10.5 billion over last year on the strength of its cable unit. Time Warner Cable outweighed declines at its online and publishing units by recording a 25 percent jump in first-quarter operating profit to $501 million over the same period last year. Revenue rose 15 percent to $2.6 billion. Digital Phone reported revenue growth of $108 million.

Operating earnings at AOL, the company's online business, declined 14% to $269 million as it continued to lose dial-up subscribers. Digital Phone subscribers, however, grew by 270,000 in the quarter for a total of 1.4 million. The company claims this to be the largest quarterly gain ever, representing 8% of service-ready homes passed.

To learn more about Time Warner Cable's quarterly results:
- go to the company's press release [1] (pdf)
- see Time Warner's webcast and presentation [2]
- read this article [3] from The Wall Street Journal (sub. req.)

PLUS: Time Warner Cable demonstrated fixed-mobile convergence via IMS with online gaming scenarios integrating fixed line, mobile and WiFi and dual-mode handsets at its Herndon, VA facility, using Siemens. Release [4]

ALSO: Don't forget to sign up [5] for our webinar, "Will IMS Lead Us to Fixed-Mobile Convergence?" on May 23, 12pm ET/9am PT.