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Time Warner tops 4Q earnings expectations, misses revenue forecasts

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NEW YORK — Time Warner Inc. (TWX) on Wednesday reported fourth-quarter profit of $857 million.

The New York-based company said it had profit of $1.06 per share.

The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.

The owner of TV channels like HBO and TBS as well as Warner Bros. studios posted revenue of $7.08 billion in the period, falling short of Street forecasts. Nine analysts surveyed by Zacks expected $7.55 billion.

PHOTO: FILE - In this Jan. 3, 2008, file photo, the Time Warner Center is shown in New York. Time Warner Inc. reports financial results Wednesday, Feb. 10, 2016. (AP Photo/Mark Lennihan, File)
FILE - In this Jan. 3, 2008, file photo, the Time Warner Center is shown in New York. Time Warner Inc. reports financial results Wednesday, Feb. 10, 2016. (AP Photo/Mark Lennihan, File)

For the year, the company said profit was nearly unchanged at $3.83 billion. Annual earnings per share rose to $4.62 from $4.34. Revenue was reported as $28.12 billion.

Time Warner shares have declined slightly more than 2 percent since the beginning of the year, while the Standard & Poor's 500 index has dropped slightly more than 9 percent. The stock has decreased 22 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TWX at http://www.zacks.com/ap/TWX

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Keywords: Time Warner, Earnings Report

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