Time Warner Cable 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 numbers of broadband and digital 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.

Analysts at Soleil, for instance, had forecast that Time Warner would add 150,000 digital subscribers and 210,000 new Internet subscribers.

For 2008, the company said it expects revenues to rise about 9 percent and earnings per share from continuing operations to be in the range of $1.25 to $1.30.

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