Time Warner Beats Profit Estimates, Plans $4 Billion Buyback
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Time Warner Inc., owner of the HBO cable-TV channel, reported fourth-quarter profit that topped analysts’ estimates as subscription fees for television shows improved, and it announced a new share buyback of $4 billion.
Net income rose 0.5 percent to $773 million, or 76 cents a share, from $769 million, or 68 cents, a year earlier, the New York-based company said today in a statement. Excluding some items, profit of 94 cents a share beat the 87-cent average of analysts’ predictions compiled by Bloomberg.