Time Warner Cable Stock Jumps on Earnings

In its maiden earnings report as an independent concern, Time Warner Cable(TWC Quote) reported stronger-than-expected profits, helping lift its stock 14% in afternoon trading Wednesday.

The nation's second-largest cable company, spun off from parent Time Warner(TWX Quote) in March, said it registered earnings of $164 million, or 48 cents a share, which included one-time charges for spin-off costs and other items totaling $92 million, or 27 cents a share.

Backing out those items, the company's EPS was 75 cents, topping analysts' expectations of 61 cents a share. In the year-ago period, Time Warner Cable said it earned $242 million, or 74 cents a share. ...