Time Warner Cable Misses Profit, Revenue Forecasts

Time Warner Cable Inc. said on Thursday third-quarter profit slipped to $437 million, or $1.53 a share, down from $499 million, or $1.76 a share, in the year-ago period. On an adjusted basis, earnings fell 13% to $1.62 a share from $1.85 last year. Revenue rose 3.6% to $5.92 billion compared with $5.71 billion in the year-ago period. Analysts surveyed by FactSet estimated adjusted earnings of $1.55 a share on revenue of $5.96 billion. Shares of Time Warner Cable were unchanged ahead of the bell.