Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Time Warner profit beats Street on ad sales
BackBack

Time Warner profit beats Street on ad sales

Time Warner profit beats Street on ad sales

Premium

New York : Time Warner Inc posted better-than-expected quarterly results, helped by stronger advertising and movies like “The Hangover 2," and ratcheted up its full-year outlook.

For the second quarter, the parent of CNN, HBO, Time magazine and Warner Bros studios, reported on Wednesday net income of $638 million, or 59 cents per share, compared with year-earlier net income of $562 million, or 49 cents per share.

Adjusted earnings per share of 60 cents beat the average analyst forecast of 56 cents, according to Thomson Reuters I/B/E/S.

Revenue rose 10% to $7.03 billion.

The New York-based company said it now expects its full-year percentage growth in net income per share to be “at least low teens." Previously, the company had said profits would grow in the “low teens".

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 03 Aug 2011, 05:30 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie