Time Warner Cable Q1 Profit Beats Street - Quick Facts

(RTTNews) - Time Warner Cable Inc. (TWC), a provider of video, high-speed data and voice services, posted higher first-quarter net income attributable to TWC shareholders of $479 million, or $1.70 per share, compared with the prior-year quarter's $401 million, or $1.34 per share.

Excluding certain items affecting the comparability of TWC's results for 2014 and 2013, adjusted net income attributable to TWC Shareholders totaled $503 million, or $1.78 per share in the 2014 first quarter. The recent quarter's adjusted EPS benefited from lower average common shares outstanding as a result of share buybacks under the firm's stock repurchase program.

The firm clocked revenue of $5.58 billion in the quarter, up 2.0%, compared with last year's $5.475 billion, reflecting the revenue growth at the Business Services and Other Operations segments, partially offset by a decrease at the Residential Services segment.

On average, 23 analysts polled by Thomson Reuters expected earnings per share of $1.68, on revenues of $5.64 billion for the quarter. Analysts' estimates typically exclude one-time items.

Operating income for the quarter rose 3.0% mainly due to higher adjusted OIBDA and lower depreciation expense, partially offset by higher merger-related and restructuring costs.