UPDATE: Time Warner Cable Posts Drop In Q3 Profit

Time Warner Cable

reported a drop in its third-quarter profit. Time Warner Cable's quarterly profit fell to $532 million, or $1.84 per share, from $808 million, or $2.60 per share, in the year-ago period. Excluding one-time items, it earnings rose to $1.69 from $1.41 per share. Its revenue climbed 2.9% to $5.52 billion. However, analysts were estimating a profit of $1.65 per share on revenue of $5.54 billion. Time Warner Cable shares closed at $116.88 yesterday.