UPDATE: Time Warner Cable Posts Higher Q1 Profit

Time Warner Cable

posted a 19.5% gain in its first-quarter profit. Time Warner Cable's quarterly net income surged to $479 million, or $1.70 per share, versus a year-ago profit of $401 million, or $1.34 per share. Excluding items, Time Warner Cable earned $1.78 per share, beating analysts' estimates of $1.68 per share. Its revenue climbed 2% to $5.58 billion, versus estimates of $5.64 billion. Time Warner Cable shares closed at $139.87 yesterday.