Time Warner Cable Inc. (TWC) Finishes Higher After Q3 Results

Time Warner Cable Inc. (NYSE: TWC) shares rallied today after the company announced its third-quarter financial results. The stock ended the day 4.48% higher at $62.33, on above average volume of 6.49 million. The stock touched a 52-week high of $63.98 today. It has a 52-week range of $39.65-$63.98. The company today reported its third-quarter financial results, with net revenues at $4.7 billion as compared to $$4.4 billion in previous year, an increase of 5.2%. The company's subscription revenues grew 4.5% year-over-year to $4.5 billion, driven by a 3.5% increase in residential subscription revenues and a 21.6% increase in commercial subscription revenues. Advertising revenues increased 22.5% to $223.0 million. The net income reported was $360.0 million, or $1.00 per basic and diluted common share, as compared to $268.0 million, or $0.76 per basic and diluted common share, in the previous year. The third quarter saw high-speed data subscribers grow by 104,000 and digital phone subscribers increase by 34,000, while video subscribers declined by 155,000, resulting in a net loss of 17,000 primary service units. The double play subscriber net additions were 15,000 and triple play subscriber net additions were 14,000 in the third quarter, and bundled subscribers totaled 8.6 million, or 59.4% of total customer relationships, as of September 30, 2010. Time Warner Cable is a cable operator in the United States. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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