More from Time Warner Cable: 2014 capex up 28%

• On Time Warner Cable's (TWC) earnings conference call, the company waved off persistent attempts to get a hint of 2015 guidance due to the Comcast (NASDAQ:CMCSA) deal. Capex of $4.1B in 2014 (up 28%) comprised "accelerated investment in TWC Maxx, improved customer experience and network expansion."
• Revenue growth was offset in part by increasing operating expenses of 2.8%, including increases in programming costs (up 4.7%), sales and marketing (business) costs, and technical operations (residential) costs.
• Q4 Free cash flow of $891M, up 15% Y/Y; full-year free cash flow of $2.35B is down about 10%.
• Previously: TWC misses expectations as video subs continue exodus (Jan. 29 2015)
• Previously: Time Warner Cable misses by $0.06, misses on revenue (Jan. 29 2015)