Time Warner Cable Profit Dips 11% Thursday, November 5, 10:13 AM ET
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 (NYSE: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.
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