Time Warner Earnings Beat Expectations
Despite some tough comparisons to a year ago, Time Warner reported on Wednesday it beat analyst expectations on cable network gains. Net income rose to 86 cents, up from 78 cents a year earlier.
Mark Lennihan
"Investments in content and technology are paying off," CEO Jeff Bewkes said.
The company has done $3.1 billion in dividends and share repurchases so far this year and is on track to meet its financial objectives for the year. Looking forward, Bewkes expects advertising to grow in the mid to high single digits, though international advertising is expected to decline in the fourth quarter.
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