Time Warner beats 2Q profit forecasts

Time Warner Inc. (TWX) on Wednesday reported second-quarter net income of $1.06 billion.

On a per-share basis, the New York-based company said it had net income of $1.34. Earnings, adjusted for non-recurring gains, were $1.33 per share.

The results surpassed Wall Street expectations. The average estimate of nine 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 $7.33 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $7.34 billion.

Time Warner shares have climbed 6 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 11 percent. The stock has risen 33 percent in the last 12 months.


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


Keywords: Time Warner, Earnings Report