Time Warner Cable Profit Beats the Street

NEW YORK (TheStreet) -- Time Warner Cable (TWC Quote) saw its third-quarter profit fall 11% from a year ago but still managed to top analysts' expectations.

Time Warner Cable reported net income of $268 million, or 76 cents a share, for the quarter ended Sept. 30, falling from a year-ago profit of $301 million, or 92 cents a share.

Revenue rose 4% from a year earlier to $4.5 billion, as increases in video, high-speed data and voice revenue outweighed a 19% slide in advertising revenue.

On average, analysts were looking for Time Warner Cable to report a profit of 75 cents a share on revenue of $4.47 billion, according to a poll by Thomson Reuters.

Revenue generating units increased by 1.17 million from the second quarter, as an increasing number of residential and commercial high-speed data and digital phone subscribers outweighed a decline of 84,000 video subscribers.

-- Written by Robert Holmes in New York.

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