NEW YORK — Time Warner Inc. (TWX) on Wednesday reported third-quarter profit of $967 million.
On a per-share basis, the New York-based company said it had profit of $1.11. Earnings, adjusted for one-time gains and costs, were 97 cents per share.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.
The owner of TV channels like HBO and TBS as well as Warner Bros. studios posted revenue of $6.24 billion in the period, which also beat Street forecasts. Analysts expected $6.13 billion, according to Zacks.
Time Warner shares have climbed 7.5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 9 percent. The stock has increased 9 percent in the last 12 months.
Elements of this story was generated by Automated Insights using data from Zacks Investment Research. TWX stock research report from Zacks.
Keywords:Time Warner,Earnings Report