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Time Warner Cable Profit Dips 11%

Nov 05, 2009 (MarketNewsVideo.com via COMTEX) -- By MarketNewsVideo.com

Company: Time Warner, Inc. (TWX)

Time Warner Cable said third quarter profit dipped 11 percent, to $268 million, or 76 cents per share, as compared to $301 million, or 92 cents per share, in the same quarter last year.

Operating income ticked higher by 5 percent, to $828 million, and revenue rose 4 percent, to $4.5 billion.

The Number Two cable company in the U.S. said this quarter's results were partially hampered by debt and other expenses tied to paying a $10.9 billion special dividend to Time Warner (TWX) shareholders.

Time Warner Cable added 117,000 new customers as compared to the second quarter of this year, for a total of 14.6 million customers.

The preceeding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=200911TimeWarner110509&mv=1. 

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News Provided by COMTEX

Company: Time Warner, Inc. (TWX)


Related terms: debt, dividend, profit, revenue, video

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