Time Warner tops Street 4Q forecasts

Markets Associated Press

Time Warner Inc. (TWX) on Wednesday reported fourth-quarter earnings of $293 million.

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On a per-share basis, the New York-based company said it had net income of 37 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $1.25 per share.

The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.

The owner of TV channels like HBO and TBS as well as Warner Bros. studios posted revenue of $7.89 billion in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $7.75 billion.

For the year, the company reported profit of $3.93 billion, or $4.96 per share. Revenue was reported as $29.32 billion.

Time Warner shares have fallen slightly since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 2 percent. The stock has risen 43 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 https://www.zacks.com/ap/TWX

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Keywords: Time Warner, Earnings Report