Time Warner Cable Earnings Beat Views As Customer Base Grows

Time Warner Cable Inc. posted first-quarter earnings ahead of expectations on Thursday, driven by what the company called "robust" customer growth. Profit for the period rose to $494 million, or $1.72 a share, up from $458 million, or $1.59 a share, in the year-ago quarter. Adjusted earnings per share climbed to $1.81 from $1.65 last year. Revenue rose 7% to $6.19 billion. Analysts surveyed by FactSet expected adjusted earnings of $1.74 a share on revenue of $6.14 billion. The cable company said customer relationships net additions were 236,000. "Our first-quarter results are the clearest indication yet that our efforts over the last 27 months are paying off. We have made our network more reliable, our products more compelling and our customer service far better," said Chairman and Chief Executive Rob Marcus. Time Warner Cable shares were flat premarket.