Time Warner Profit Beats Estimates; Forecast Raised
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Time Warner Inc., owner of the TNT and TBS cable networks, beat analysts’ third-quarter profit estimates on higher TV licensing and advertising sales. The company raised its 2010 earnings forecast.
Earnings, excluding debt refinancing costs, rose to 62 cents a share from 53 cents, the New York-based company said today in a statement. Analysts projected 53 cents, the average of 22 estimates compiled by Bloomberg.