Time Warner Cable Slips on Outlook

Time Warner Cable (TWC Quote) notched a better-than-expected third quarter thanks to increased voice and data revenue, but the company's shares traded lower on the company's lowered outlook.

The New York-based cable provider said net income rose to $301 million, or 31 cents a share, from $248 million, or 25 cents a share, in the year-ago period. Excluding certain items, Time Warner Cable had a profit of 34 cents a share, which exceeded the Thomson Reuters average estimate by 28 cents.

Revenue increased 8% to $4.3 billion, although that number was unchanged sequentially, as a net increase in digital phone subscribers boosted total sales. Wall Street was looking for revenue of $4.35 billion, according to Thomson Reuters. ...