UPDATE: Time Warner Cable Reports 23% Surge In Q2 Net Income

Time Warner Cable Inc TWC reported a 23% rise in its second-quarter net income. Time Warner's quarterly net income surged to $421 million, or $1.24 per share, from $342 million, or $0.95 per share, in the year-earlier period. Its revenue climbed 4.4% y/y to $4.94 billion from $4.73 billion. However, analysts were expecting earnings of $1.16 per share on revenue of $4.94 billion. TWC shares closed at $77.10 yesterday.