Time Warner Cable Profit falls 11% on Weakness in Advertising Sales (TWC)

11/5/2009-Time Warner Cable (NYSE:TWC) reported Q3 EPS of 76 cents, topping consensus estimates by a penny.

Revenues in the quarter rose 3.6% year-over-year to $4.50 billion, inline with consensus estimates.

Time Warner Cable reported its advertising revenues fell 19% to $182 million, citing "year-over-year declines in the auto, media and political categories."

Time Warner Cable Chief Executive Officer Glenn Britt said, "In the third quarter we grew both Revenues and Adjusted OIBDA by 4%, and we continued to generate a considerable amount of cash. This has enabled us to further pay down the debt we incurred to fund our special dividend. WeaEUR(TM)re on track to return to our target leverage in the first quarter of 2010."

Write to Chip Brian at cbrian@tradethetrend.com

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