Time Warner Reports 10% Revenue Increase and Raises Its Outlook

Time Warner, the owner of Warner Brothers, Turner Broadcasting and Time Inc., on Wednesday reported a 10 percent rise in revenue for the quarter that ended in June — its highest growth rate since 2007 — and slightly revised upward its earnings guidance for the year.

The company’s total revenues were $7.03 billion, up from $6.38 billion in the same quarter last year. That beat most analysts’ expectations, as did its net income of $638 million, or 59 cents a share, up from $562 million, or 49 cents a share.

The company had previously expected its adjusted earnings per share to grow by the “low teens” on a percentage basis for the full year. On Wednesday, it said it now believed earnings would grow by “at least low teens.”

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- Posted: 2011-08-03 21:34:21

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