Time Warner Cable Slumps as Video Losses Top Estimates
This article is for subscribers only.
Time Warner Cable Inc., the second-largest U.S. cable-television operator, fell the most in almost 18 months after reporting third-quarter profit that missed analysts’ estimates because of video-customer losses.
Earnings per share were $1.08, the New York-based company said today, missing the average analyst projection of $1.14. The shares fell 7.7 percent to $65.17 at 4:02 p.m. New York time, the biggest one-day decline since May 2010.