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Time Warner Profit Beats Estimates; Dividend Raised

Time Warner Inc., owner of the Warner Bros. film studio, reported profit that beat analysts’ estimates after a box-office boost from the latest "Harry Potter" movie and higher TV-advertising sales. The stock jumped.

Fourth-quarter profit, excluding some items, rose to 67 cents a share, topping the 62-cent average of estimates compiled by Bloomberg. Time Warner increased its dividend 11 percent and boosted its share-buyback program by $4 billion, according to a statement today from the New York-based company.