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Film, TV businesses boost Time Warner earnings jump

The Time Warner Center in New York City.
Adam Jeffery | CNBC
The Time Warner Center in New York City.

Time Warner, owner of HBO, CNN, and Warner Bros., said its second-quarter net income jumped 87 percent, boosted by better results at its film and TV businesses.

The results beat Wall Street predictions and the New York company boosted its full-year profit outlook.

Following the report, the company's shares rose in pre-market trade. (Click here to track the company's stock before the opening bell.)

Time Warner earned $711 million, or 81 cents per share, in the April-June period. That's up from $413 million, or 42 cents per share, a year ago.

(Read more: Why HBO Could Send Netflix Shares Up: Analyst)

Excluding items, the company earned an adjusted 83 cents per share for the recent quarter. Analysts expected 76 cents per share.

Revenue rose 10 percent to $7.44 billion from $6.74 billion. Analysts expected $7.11 billion in revenue.

For the full year, the company says it now expects to post an earnings-per-share percentage increase in the "mid-teens."