Time Warner Cable Inc. (TWC) on Thursday reported net income that increased by 3.7 percent in its second quarter, and fell short of analysts' expectations.
The New York-based company said earnings increased to $499 million, or $1.76 per share, from $481 million, or $1.64 per share, in the same quarter a year earlier.
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Earnings, adjusted for costs related to mergers and acquisitions, were $1.89 per share. The average per-share estimate of analysts surveyed by Zacks Investment Research was for profit of $1.93.
The cable company said revenue rose 3.2 percent to $5.73 billion from $5.55 billion in the same quarter a year earlier, and missed Wall Street forecasts. Analysts expected $5.74 billion, according to Zacks.
Time Warner Cable shares have increased $15.92, or 12 percent, to $151.42 since the beginning of the year, while the Standard & Poor's 500 index has climbed 6.6 percent. The stock has climbed $37.35, or 33 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full TWC report: http://www.zacks.com/ap/TWC
Keywords:Time Warner Cable,Earnings Report