News / Business
Stock Alert - (NYSE:TWC) Earnings Down 11%, but Beat Estimates
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Time Warner Cable Inc. (NYSE:TWC) rose 1% to $40.451 after on Thursday it reported third-quarter net income of $268 million, or 76 cents a share, compared to $301 million, or 92 cents a share, in the same period last year. Analysts surveyed by FactSet Research had produced a consensus forecast of 75 cents a share. The company said the earnings decline resulted largely from higher interest expense tied to the debt used to fund a $10.9 billion special cash dividend paid in March. Revenues rose 4% to $4.5 billion, the company said.
Time Warner Cable Inc. (TWC) operates as a cable operator in the United States. The Company operates in five geographic areas: New York state (including New York City), the Carolinas, Ohio, southern California (including Los Angeles) and Texas.
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