Time Warner Cable Q2 Profit Rises - Quick Facts

(RTTNews) - Time Warner Cable Inc. (TWC) reported that its second-quarter net income attributable to shareholders increased to $499 million or $1.76 per share, from $481 million or $1.64 per share, last year. Adjusted earnings per share was $1.89 for the quarter.

On average, 23 analysts polled by Thomson Reuters expected the company to report profit per share of $1.91 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $5.73 billion from $5.55 billion, prior year. Analysts expected revenue of $5.74 billion for the quarter. Revenue grew 3.2% year over year, driven primarily by growth of 22.3% in business services revenue and 12.8% growth in residential high-speed data revenue, the company said.

Time Warner Cable Chairman and CEO Rob Marcus said: "Time Warner Cable posted another very good quarter. We delivered the best second-quarter subscriber volumes in years, accelerated ARPU growth and made terrific progress on our strategic and operating initiatives. I want to commend our team for remaining laser focused on executing our operating plan, while at the same time working hard to complete our merger with Comcast."