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Time Warner Cable Profit Jumps Ahead Of Comcast Deal

04/24/2014 06:17 am ET | Updated Jun 24, 2014
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April 24 (Reuters) - Time Warner Cable Inc, the second-largest U.S. cable operator, posted a 19.5 percent rise in quarterly profit as its residential subscriber trends improved through the quarter.

Net income attributable to common shareholders rose to $479 million, or $1.70 per share, in the first quarter ended March 31, from $401 million, or $1.34 per share, a year earlier.

Excluding items, the company earned $1.78 per share - above analysts' average expectation of $1.68 per share, according to Thomson Reuters I/B/E/S.

Revenue rose 2 percent to $5.58 billion. Analysts were expecting $5.64 billion. The company said it lost 34,000 residential video customers in the quarter on a net basis.

Time Warner Cable will be acquired in a $45.2 billion deal by Comcast once regulators approve the transaction. (Reporting by Soham Chatterjee; Editing by Joyjeet Das)

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