Time Warner Beats Profit Estimates, Increases Buyback Plans
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Time Warner Inc., the media company that owns HBO and the Warner Bros. film studio, surpassed fourth-quarter profit estimates and made the biggest increase to its stock-buyback fund in seven years.
Excluding some items, earnings were $1.17 a share, the New York-based company said today in a statement. Analysts predicted $1.15 on average, according to data compiled by Bloomberg. Fourth-quarter revenue jumped 5 percent to $8.6 billion, also topping analysts’ estimates.