UPDATE: Time Warner Cable Q1 Profit Up 5%

Time Warner Cable TWC reported a 5% rise in its first-quarter earnings. Time Warner Cable's quarterly profit surged to $401 million, or $1.34 per share, from $382 million, or $1.20 per share, in the year-ago period. Excluding one-time items, its adjusted earnings came in at $1.41 per share. Its revenue climbed 6.6% to $5.48 billion. However, analysts were expecting earnings of $1.37 per share on revenue of $5.49 billion. Its operating margin narrowed to 19.4% from 20.3% Time Warner Cable shares fell 3.39% to $89.59 in pre-market trading.