Time Warner Cable Inc. (TWC) posted higher first-quarter net income attributable to TWC shareholders of $401 million, or $1.34 a share, compared with last year's $382 million, or $1.20 a share.
On an adjusted basis, net income attributable to shareholders was $423 million, or $1.41 a share, benefiting from lower average common shares outstanding as a result of share repurchases under share repurchase program. On average, 26 analysts polled by Thomson Reuters expected earnings per share of $1.38 for the quarter. Analysts' estimates typically exclude one-time items.
Revenue for the first quarter of 2013 increased 6.6% to $5.48 billion, from $5.13 billion a year before. Analysts estimated revenues of $5.49 billion for the quarter. The quarterly revenue benefited from two additional months of revenue from Insight Communications Co. which was acquired on February 29, 2012.
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