Time Warner Cable second-quarter profit increases 3.7 percent, misses estimate

MarketsAssociated Press

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.

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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

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Keywords:Time Warner Cable,Earnings Report