Earnings, adjusted for restructuring costs, came to $1.62 per share.
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Revenue rose 3.6 percent to $5.92 billion, slightly short of analysts average estimate of $5.96 billion. Regulatory obstacles had earlier sunk Comcast’s bid for Time Warner Cable. Analysts had been looking for earnings of 88 cents per share and $2.55 billion in revenue.
Adjusted Operating Income before Depreciation and Amortization, or Adjusted OIBDA, for the third quarter decreased 3.6% driven by a 7.7% year-over-year increase in operating expenses, partially offset by revenue growth. The stock has climbed 44 percent in the last 12 months.
Overall residential customer relationships increased by 97,000 in the third quarter, compared with 68,000 such relationships in the year-ago period.
Cable operator Charter Communications, in which John Malone’s Liberty Broadband owns a big stake and which has agreed to acquire Time Warner Cable, on Thursday said it swung to a third-quarter profit and managed to grow its video subscribers. It added 237,000 voice subscribers and 218,000 triple play subscribers for its best third quarter since 2007 on both metrics.
Time Warner Cable Chairman and CEO Rob Marcus said: “I’m very excited about the operating momentum reflected in our third-quarter results”.
Shares in the company, up 21% this year, were inactive premarket.
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MasterCard’s net earnings were 86 cents per share, a 1% increase on a reported basis or 9% on a currency adjusted basis. As of the end of September, MasterCard’s customers had issued 2.2 billion branded cards.
