Time Warner Cable Profit, Sales Beat View

Time Warner Cable Inc. on Thursday reported a rise in fourth-quarter sales and posted earnings ahead of expectations. The cable company said profit for the quarter dropped to $486 million, or $1.70 a share, down from $554 million, or $1.95 a share, a year-ago. On an adjusted basis, earnings fell 11% to $1.80 a share. Revenue rose 5% to $6.07 billion. Analysts polled by FactSet expected adjusted earnings of $1.77 a share on revenue of $6.05 billion. The company said its income was hit by higher depreciation expenses from TWC Maxx and other capital investments.