Time Warner Cable fourth-quarter profit rises

NEW YORK (Reuters) - Time Warner Cable Inc , the second-largest U.S. cable operator, on Wednesday posted a 23 percent rise in fourth quarter profit from higher broadband and phone customers.

Revenue rose 12 percent to $4.1 billion from $3.65 billion.

Time Warner Cable is 84 percent-owned by media conglomerate Time Warner Inc , which spun off a 16 percent stake a year ago as partial payment for cable systems it bought in July 2006 from bankrupt operator Adelphia Communications Corp.