Time Warner (TWC) Posts Q3 EPS of $1.00, Tops VIews; Declares $4B Stock Buyback, $0.40 Quarterly Dividend; 2.7% Yield

Time Warner Cable (TWC) reports Q3 EPS of $1.00, 11 cents better than the analyst estimate of $0.89. Revenue for the quarter was $4.7 billion, which compares to the estimate of $4.72 billion. In the third quarter, high-speed data subscribers grew by 104,000 and Digital Phone subscribers increased by 34,000, while video subscribers declined by 155,000, resulting in a net loss of 17,000 Primary Service Units. TWC's Board of Directors has authorized a $4 billion share repurchase program. The Board also declared a regular quarterly dividend of $0.40 per share on the Company’s Common Stock, $1.60 annualized. The dividend is payable in cash on December 15, 2010 to stockholders of record at the close of business on November 30, 2010. The ex-dividend date is November 26, 2010. Yield on the dividend is 2.7%.... Read more