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Time Warner Cable’s Q2 Profit Rises 8%, Beating View (TWC)

Cable TV and Internet provider Time Warner Cable Inc. ( TWC

) on Thursday said its second quarter profit rose 8% from last year, beating analyst estimates.

The New York-based company reported second quarter net income of $342 million, or 95 cents per share, compared with $316 million, or 89 cents per share, in the year-ago period. Revenue rose 5.8% from last year, to $4.73 billion.

On average, Wall Street analysts expected a smaller profit of 93 cents per share, on lower revenue of $4.68 billion.

The company said it added 85,000 residential Internet subscribers in the period, and 63,000 home phone customers. However, it lost some 111,000 video subscribers.

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

The Bottom Line

We have been recommending shares of TWC since Feb.3, 2010, when the stock was trading at $44.99. The company has a 2.71% dividend yield, based on last night's closing stock price of $59.02.

Time Warner Cable Inc. ( TWC ) is a "recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 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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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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