Summary Box: Time Warner Cable 3Q earnings slip

AP News
|
Posted: Oct 27, 2011 1:00 PM
Summary Box: Time Warner Cable 3Q earnings slip

EARNINGS DOWN: Time Warner Cable Inc.'s third-quarter net income fell to $356 million, or $1.08 per share, in the three months that ended Sept. 30. That's down 1 percent from $360 million, or $1 per share, in the same period a year earlier. Analysts were expecting earnings of $1.13 per share, according to FactSet.

REVENUE UP: Revenue grew 4 percent to $4.91 billion from $4.73 billion. Analysts were expecting revenue of $4.95 billion.

STOCK REACTION: Time Warner's stock dropped $4.69, or 6.6 percent, to $65.94 in midday trading.