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.
Keywords: Time Warner Cable, Earnings Report