Time Warner Cable 3Q net income slips 1 percent (AP)

NEW YORK ? The nation's second-largest cable company, Time Warner Cable, says its third-quarter earnings slipped 1 percent even as its revenue rose.

Time Warner Cable Inc. said Thursday that its net income fell to $356 million, or $1.08 per share. That's down from $360 million, or $1 per share, in the same period a year earlier.

Revenue grew 4 percent to $4.91 billion from $4.73 billion.

Analysts polled by FactSet were expecting earnings of $1.13 per share on revenue of $4.95 billion.

Time Warner Cable says its residential services revenue climbed 2 percent to $4.3 billion. Business services revenue jumped 35 percent to $387 million. A growth in the number of high-speed data subscribers helped boost results.

Advertising revenue fell 3 percent to $216 million.

Source: http://us.rd.yahoo.com/dailynews/rss/earnings/*http%3A//news.yahoo.com/s/ap/20111027/ap_on_hi_te/us_earns_time_warner_cable

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