Time Warner Cable beats 3Q profit expectations, misses revenue forecasts

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NEW YORK — Time Warner Cable Inc. (TWC) on Thursday reported third-quarter net income of $437 million.

On a per-share basis, the New York-based company said it had profit of $1.53. Earnings, adjusted for restructuring costs, came to $1.62 per share.

The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.

The cable company posted revenue of $5.92 billion in the period, which missed Street forecasts. Ten analysts surveyed by Zacks expected $5.95 billion.

Time Warner Cable shares have increased 22 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 1.5 percent. The stock has climbed 30 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TWC at http://www.zacks.com/ap/TWC


Keywords: Time Warner Cable, Earnings Report

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