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Time Warner Tops Estimates as Cable, HBO Fees Offset Ad Drop

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By Gerry Smith

February 11, 2015 at 12:15 PM UTC

Updated on

February 11, 2015 at 2:41 PM UTC

This article is for subscribers only.

Time Warner Inc. beat analysts’ profit estimates for the 24th straight quarter as fees for its cable channels and HBO helped offset lower advertising sales.

Fourth-quarter adjusted earnings were 98 cents a share, the New York-based company said Wednesday in a statement. Earnings would have been $1.14 a share excluding restructuring costs and programming charges at Turner. Analysts had predicted 93 cents on average, based on estimates compiled by Bloomberg.