At Home Subs Rise to 90K

Author:
Publish date:
Updated on

Redwood City, Calif. -- Data-over-cable service @Home
Network said last Thursday

that its subscriber count rose to 90,000 March 31, up 80
percent from 50,000 at year-end, while its revenue in the first quarter rose 57 percent.

@Home, the owners of which include several large MSOs, also
said its market base of homes with two-way-upgraded cable plant rose to 5.7 million from
4.5 million Dec. 31. Its first-quarter revenues rose to $5.8 million from $3.7 million in
the fourth quarter, and its quarterly net loss reached $95 million, including an $83
million noncash charge related to the fair value of warrants issued to cable-system
distributors.

The loss, equal to 85 cents per share of stock, compares
with a net loss of $184.4 million ($1.67 per share) in the fourth quarter, when @Home had
a $172.6 million noncash charge.

In the first quarter of 1997, @Home had $800,000 in revenue
and a net loss of $10.9 million. Its @Work service for commercial customers rose to 590
installed accounts, up 80 percent from 331 Dec. 31.

In related news, the soon-to-merge Time Warner Cable's
Road Runner and MediaOne Express services said they now have more than 75,000 customers
between them for their high-speed-data services. In Portland, Maine, where Time Warner has
actively marketed Road Runner for nine months, penetration has reached 7 percent, the
company said.

Related