Time Warner Cable misses 2Q net income and revenue expectations

Markets Associated Press

Time Warner Cable Inc. (TWC) on Thursday reported second-quarter profit of $463 million.

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The New York-based company said it had profit of $1.62 per share. Earnings, adjusted for non-recurring gains, came to $1.54 per share.

The results missed Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $1.82 per share.

The cable company posted revenue of $5.93 billion in the period, also falling short of Street forecasts. Fourteen analysts surveyed by Zacks expected $5.94 billion.

Time Warner Cable shares have climbed 25 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 2 percent. The stock has increased 26 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TWC at http://www.zacks.com/ap/TWC

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Keywords: Time Warner Cable, Earnings Report