UPDATE: Time Warner Cable Posts Upbeat Q4 Profit

Time Warner Cable

posted upbeat fourth-quarter earnings. Time Warner Cable added 39,000 net residential Internet subscribers in the fourth quarter, versus a loss of 24,000 subscribers in the third quarter. Time Warner Cable's quarterly net income surged 5% to $540 million, or $1.89 per share, versus $513 million, or $1.68 per share, in the year-ago period. Its revenue climbed around 2% to $5.58 billion. However, analysts were projecting earnings of $1.73 per share on sales of $5.56 billion. Time Warner Cable shares closed at $132.10 yesterday.