Time Warner tops 3Q profit and revenue expectations

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NEW YORK — Time Warner Inc. (TWX) on Wednesday reported third-quarter profit of $1.03 billion.

The New York-based company said it had net income of $1.26 per share. Earnings, adjusted for non-recurring gains, were $1.25 per share.

The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.

The owner of TV channels like HBO and TBS as well as Warner Bros. studios posted revenue of $6.56 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $6.5 billion.

Time Warner expects full-year earnings in the range of $4.60 to $4.70 per share.

Time Warner shares have declined 9.5 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 2.5 percent. The stock has dropped nearly 2 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TWX at http://www.zacks.com/ap/TWX


Keywords: Time Warner, Earnings Report

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