Time Warner Cable Beats in Q2

Time Warner Cable Inc. (TWC) posted better-than-expected second-quarter results this morning, driven by growth in subscription revenues.

The second-largest cable operator in the U.S. reported adjusted earnings of 91 cents per share, beating the Zacks Consensus Estimate by more than 13%.

Sales expanded 4% to $4.5 billion.

Time Warner Cable said subscription revenue grew 6%, primarily driven by a 9% growth in high-speed data coupled with a 19% increase in voice revenue.

The company, which was spun-off from Time Warner Inc. (TWX) in March this year, said total subscribership remained almost flat at 14.7 million.

Meanwhile, the full-year Zacks Consensus Estimate derived from 17 covering analysts is currently pegged at $2.98 per share, which has climbed 2 cents over the past 2 months.

TWC, a Zacks #3 Rank ("Hold") stock, has slipped nearly 4% on volume of approximately 2.5 million, compared to the average daily volume of about 2.95 million.

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