logo
Share SHARE
FONT-SIZE Plus   Neg

Time Warner Q4 Results Top Estimates - Update

TimeWarner-020812.jpg

Media and entertainment giant Time Warner Inc. (TWX) reported Wednesday a higher fourth-quarter profit, as revenues grew 5 percent, driven by its Filmed Entertainment and Networks segments. Adjusted earnings and revenues surpassed analysts' expectations.

In the fourth quarter, net income attributable to shareholders increased to $773 million or $0.76 per share from $769 million or $0.68 per share reported last year.

Adjusted earnings per share were $0.94, higher than $0.67 a year earlier. On average, 27 analysts polled by Thomson Reuters expected earnings per share of $0.87 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the quarter grew 5 percent to $8.19 billion from $7.81 billion in the same quarter last year, reflecting higher revenues at the Filmed Entertainment and Networks segments. Analysts estimated revenues of $8.06 billion for the quarter.

Networks segment revenues increased to $3.5 billion from $3.35 billion a year earlier. Filmed Entertainment generated revenues of $3.89 billion, higher than $3.64 billion in the preceding year. Home video and electronic delivery of theatrical product revenues were $1.16 billion, higher than $927 million in the prior year.

Operating Income margins improved to 20 percent from 18 percent in the year-ago quarter.

For the full year 2011, net income attributable to shareholders increased to $2.89 billion or $2.71 per share from $2.58 billion or $2.25 per share in the prior year. Adjusted earnings were $2.89 per share, compared to $2.41 per share last year. Annual revenues increased 8 percent to $28.97 billion.

Jeff Bewkes, chairman and chief executive officer of the company said, "In 2011, Time Warner had an ambitious agenda and we accomplished what we set out to do and more...While investing aggressively to drive our long-term growth, we also returned $5.6 billion to our shareholders through dividends and share repurchases."

For 2012, Time Warner anticipates percentage growth rate in adjusted earnings per share to be in the low double digits off a 2011 adjusted earnings per share base of $2.89.

The company said this full-year outlook exclude the impact of any future merger or unplanned restructuring and severance charges, the impact from sales and acquisitions of operating assets or the impact of taxes on the above items that may occur from time to time due to management decisions and changing business circumstances.

On February 7, the board increased the quarterly dividend by 11 percent to $0.26 per share, to stockholders of record on February 29, 2012, payable on March 15.

TWX closed Tuesday's regular trading at $38.10 on the NYSE. In the pre-market activity, the shares are up 2.41 percent.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Shares of social network company Twitter Inc. (TWTR), jumped over 5 percent on Wednesday, after one of its cofounders Ev Williams dropped a hint during a television interview about the company's sale. Ev Williams, a Twitter cofounder and board member, was asked by Bloomberg TV about the company's... Mazda Motor Corp. (MZDAF.PK) is recalling over 190,000 CX-7 sport utility vehicles to fix a issue that could lead to loss of steering control. The recall involves CX-7 models from 2007 through 2012 manufactured between February 14, 2006 to May 9, 2012. The company said there have been no reports of... Over 68 million email address and passwords of Dropbox users were stolen by hackers, according to a report from Motherboard. Although, the account details were stolen during a previously disclosed breach that took place in 2012, the magnitude of the attack has come to light only now. Following...
comments powered by Disqus
Follow RTT