UPDATE: Time Warner Cable Q1 Profit Up 5%
Time Warner Cable (NYSE: 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.
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