Time Warner Cable Posts Higher Q4 Profit; Ups Dividend 15% - Quick Facts

(RTTNews) - Time Warner Cable Inc. (TWC), a provider of video, high-speed data and voice services, said its fourth-quarter 2013 net income attributable to TWC shareholders advanced to $540 million, or $1.89 per share, from $513 million, or $1.68 per share, in the prior-year quarter.

Excluding certain tax matters and other items affecting the comparability of TWC's results for 2013 and 2012, quarterly adjusted net profit attributable to TWC shareholders climbed to $520 million, or $1.82 per share, from last year's $479 million, or $1.57 per share, chiefly due to higher operating profit and lower interest expense, net. On average, 27 analysts polled by Thomson Reuters expected earnings per share of $1.73 for the quarter. Analysts' estimates typically exclude one-time items.

The firm clocked revenue of $5.58 billion, up 1.7%, compared with last year's $5.485 billion. Analysts estimated revenues of $5.56 billion for the quarter. Residential services revenue rose 0.1% year-over-year to $4.6 billion, and business services revenue up 19.6% to $616 million, while advertising revenue declined 11.2% to $278 million but other revenue grew 28.8% to $103 million.

The company separately announced that it is raising its regular quarterly dividend by 15 percent to $0.75 per share; $3.00 per share on an annualized basis. The quarterly dividend is payable in cash on March 17, 2014 to stockholders of record at the close of business on February 28, 2014.