Time Warner Cable Inc (NYSE:TWX) released its earnings numbers for the three months through September 2013 this morning before the market opened on Wall Street. The cable company showed earnings per share of $1.01 for the third quarter of the year on revenue totaling $6.86 billion. On Wednesday’s market, shares in the company trended up a fraction on the earnings release.
In the run up to the release of this earnings report the analysts were looking for the company to show non-GAAP earnings of $0.89 per share. The $1.01 number reported this morning was an adjusted number. Revenue for the three months through September was expected to come in at $6.9 billion in this morning’s earnings report.
Time Warner earnings
In the same three months of 2012 Time Warner Inc (NYSE:TWX) earned 86 cents per share on revenue totaling $6.8 billion. The company’s earnings have been positively surprising for several quarters in a row including this morning’s earnings report. This morning’s release brings the company’s string of positive surprises to five consecutive quarters.
The most important earner for the company in the period was the firm’s television business. The business, which is made up of HBO and the Turner Broadcasting cable, for the most part, saw its income increase by 20% to $1.5 billion. The company’s film business contracted a little from the same period in the year before. The third quarter of last year benefited from the release of The Dark Knight Rises.
Time Warner performance
Since the year began, Time Warner Inc (NYSE:TWX) shares have performed quite well. The company’s stock has increased in value by more than 42% since January 1. The company shares have performed well on the back of a boom in the stock market and its better than expected results through the year so far.
The out-performance of the company’s television business is an important trend. The business is changing on the back of an internet video explosion. Premium Cable is going to have a hard time winning out, but Time Warner Inc (NYSE:TWX) appears to be up to the challenge.