UPDATE: Time Warner Cable Posts Downbeat Q3 Profit
Time Warner Cable (NYSE: TWC) reported a downbeat third-quarter profit.
Time Warner Cable lost 140,000 video customers in the quarter. Its broadband services revenue climbed 14.3%.
Time Warner Cable's quarterly net income surged to $808 million, or $2.60 per share, from $356 million, or $1.08 per share, in the year-ago period. Excluding items, it earned $1.34 per share, versus analysts' estimates of $1.43 per share.
Its revenue climbed 9% to $5.36 billion, versus analysts' estimates of $5.39 billion.
Time Warner Cable shares closed at $98.17 on Friday.
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