Time Warner’s Profit Tops Estimates as Network Revenue Gains
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Time Warner Inc., owner of cable channels TNT, CNN and HBO, reported third-quarter profit that surpassed analysts’ estimates after its television networks benefited from higher programming fees and advertising.
Excluding some items, earnings rose to $1.01 a share in the period, the New York-based company said today in a statement. Analysts had predicted 89 cents on average, according to data compiled by Bloomberg.