(Time Warner Cable earnings piece updated with management's guidance from the company's investor conference call and analyst commentary.)

NEW YORK, Calif. ( TheStreet) -- Time Warner Cable ( TWC) saw its full-year 2010 earnings gain 22.2%, driven by significant growth in its subscriber base.

The company added 344,000 primary service units in the full fiscal year ended Dec. 31, 2010, lifting earnings to $1.31 billion, or $3.64 a share, compared with earnings of $1.07 billion, or $3.05 a share, in the same period a year ago.

Management had expected full-year earnings to come in above $3.50 a share, Senior Executive Vice President and Chief Financial Officer Robert Marcus said on the company's third-quarter conference call.

Revenue rose 5.6% to $18.87 billion from $17.87 billion as subscription revenue grew 4.8% to $17.99 billion from $17.17 billion, with residential subscription revenue increasing 3.9% and commercial subscription revenue growing 21.1%. Advertising revenue increased 25.5% to $881 million from $702 billion.

For the quarter ended Dec. 31, 2010, the company saw earnings rise 21.7% to $392 million, or $1.09 a diluted share, from earnings of $322 million, or 91 cents a diluted share, in the same period a year ago. Earnings came in ahead of analyst estimates of $1 a share.

Revenue rose 5.9% to $4.8 billion from $4.53 billion as the company added 25,000 primary service units, driving subscription revenue up 4.6%.

In the fourth quarter, the company added 94,000 net high-speed data subscribers and 72,000 digital phone subscribers. These additions more than offset the loss of 141,000 video subscribers.

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