Time Warner Cable profit drops after CBS blackout

(Reuters) - Time Warner Cable Inc, the second largest U.S. cable operator, posted a 34 percent drop in quarterly profit as it lost more video customers than analysts had expected when it blacked out No. 1 broadcaster CBS Corp for a month. Time Warner lost 304,000 video customers on a net basis in the third quarter. CBS went dark on Time Warner Cable systems on August 2 in New York, Los Angeles, Dallas and other cities as the companies bickered over content carriage fees. Net income attributable to Time Warner Cable dropped to $532 million, or $1.84 per share, in the third quarter from $808 million, or $2.60 per share, a year earlier.

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