Time Warner Cable Profit Slips, Misses Estimates

Time Warner Cable Inc. on Thursday reported a 6.2% drop in third-quarter profit, falling to $499 million, or $1.76 a share, from $532 million, or $1.84 a share, in the same quarter last year. On an adjusted basis, profit rose to $1.86 a share from $1.69 a year ago. Revenue climbed 3.6% to $5.71 billion from $5.52 billion. Analysts surveyed by FactSet expected adjusted earnings of $1.91 a share on revenue of $5.75 billion.

Copyright © 2014 MarketWatch, Inc.