Time Warner Cable’s Q2 Profit Rises; Broadband up, Video Down (TWC)


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Cable TV and Internet provider Time Warner Cable Inc. ( TWC ) on Thursday posted better-than-expected second quarter earnings results, helped by broadband growth but limited by a downturn in video subscriptions.

The New York-based company reported second quarter net income of $452 million, or $1.43 per share, compared with $420 million, or $1.24 per share, in the year-ago period. Excluding one-time items, adjusted profit was $1.48 per share.

Revenue grew more than 9% from last year to $5.4 billion.

On average, Wall Street analysts expected a smaller profit of $1.39 per share, on matching revenue of $5.4 billion.

Time Warner Cable shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of Time Warner Cable ( TWC ) have a 2.62% dividend yield, based on last night's closing stock price of $85.60. The stock has technical support in the $75-$78 price area. The stock is trading right near all-time highs.

Time Warner Cable Inc. ( TWC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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