Deals
Time Warner Cable Misses Estimates as Programming Costs Rise
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Time Warner Cable Inc., which is awaiting regulatory approval to merge with Comcast Corp., missed analysts’ profit estimates as TV programming costs rose and the company offered more promotions to lure subscribers.
Fourth-quarter earnings, excluding some items, rose to $2.03 a share, falling short of the $2.09 average of analysts’ estimates compiled by Bloomberg. Sales gained 3.8 percent to $5.79 billion, the New York-based company said in a statement. Analysts projected revenue of $5.81 billion.