Time Warner’s Upbeat Report Unheeded as AT&T Debate Continues
- CNN’s election-related ads help lead to higher forecast
- Cable subscribers grow internationally while falling in U.S.
Time Warner, Alibaba Top Analysts' Estimates
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Time Warner Inc. topped analysts’ estimates for third-quarter earnings, raised its full-year forecast and still got a lukewarm reception from investors who remain skeptical the media giant’s merger with AT&T Inc. will get regulatory approval.
Earnings excluding some items rose to $1.83 a share, New York-based Time Warner said Wednesday in a statement, exceeding the $1.37 average of analysts’ estimates compiled by Bloomberg. The U.S. presidential election continuing to fuel viewership and advertising gains at news network CNN, and the Warner Bros. studio had a box office hit with “Suicide Squad.”