Time Warner posts 2Q profit, results top Wall Street estimates

Markets Associated Press

Time Warner Inc. (TWX) on Wednesday reported second-quarter earnings of $971 million.

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The New York-based company said it had net income of $1.16 per share. Earnings, adjusted for non-recurring costs, were $1.25 per share.

The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.

The owner of TV channels like HBO and TBS as well as Warner Bros. studios posted revenue of $7.35 billion in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $6.87 billion.

Time Warner shares have climbed roughly 3 percent since the beginning of the year, while the Standard & Poor's 500 index has risen almost 2 percent. The stock has risen 2.5 percent in the last 12 months.

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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

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Keywords: Time Warner, Earnings Report