Time Warner record profit rise, following hit Superman remake, Man of Steel
US media giant Time Warner reported a big jump in second quarter earnings Wednesday thanks to strong performances by HBO and blockbuster films like
\"Man of Steel\" and \"The Great Gatsby.\"
Net profit soared 87 percent to 771 million US dollars on a 10 percent rise in revenues to $7.4 bn . That was better than the $7.1 bn expected by analysts.
Basic earnings per share came in at 83 cents, compared to 43 cents a year earlier.
The company upped its forecast for this year\'s performance, saying it expected the percentage rise in adjusted earnings per share to be \"in the mid-teens\" off a base last year of $3.24.
Television network revenue rose 6.8 percent to a record $3.8 bn, while revenues from the film and TV entertainment division rose 12.5 percent to $2.9 bn.
\"Our networks businesses, Turner and HBO, continued to shine, reflecting the success of our increased investments in distinctive programming that is resonating with audiences, advertisers and affiliates,\" chairman and CEO Jeff Bewkes said in a statement.
\"At Warner Bros., we had a fantastic quarter, including one of its most successful upfront seasons ever, with orders for 31 new and returning shows from the broadcast networks. And we had a strong theatrical quarter with our blockbuster reboot of the Superman franchise, Man of Steel, and The Great Gatsby,\" he said.
The company said the latest Superman film, starring Henry Cavill, grossed over $600 m at box offices worldwide.
Source: AFP
GMT 17:01 2018 Thursday ,30 August
Television reporter killed in MexicoGMT 08:25 2018 Tuesday ,23 January
Turkish Cypriot paper attacked over Syria 'occupation' headlineGMT 08:42 2018 Saturday ,20 January
Mobile connection partially restored in war-torn east UkraineGMT 08:35 2018 Thursday ,18 January
Republican senator slams Trump for Stalin-like attacksGMT 12:02 2018 Wednesday ,17 January
Federer urges players not to act like 'robots'GMT 09:56 2018 Saturday ,13 January
Plot twist as Pakistani soap operas seekGMT 08:11 2018 Friday ,12 January
Julian Assange: WikiLeaks' fugitive anti-heroGMT 11:27 2018 Thursday ,11 January
Islamic State retreats online to 'virtual caliphate'Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor