Time Warner (TWX) Tops Q1 EPS by 11c

(Updated - April 29, 2015 7:03 AM EDT)

Time Warner (NYSE: TWX) reported Q1 EPS of $1.19, $0.11 better than the analyst estimate of $1.08. Revenue for the quarter came in at $7.1 billion, versus the consensus estimate of $6.96 billion.

Time Warner reaffirmed its 2015 full-year business outlook. The Company continues to expect its 2015 full-year Adjusted Diluted Income per Common Share from Continuing Operations (“Adjusted EPS”) to be in the range of $4.60 to $4.70.

Chairman and Chief Executive Officer Jeff Bewkes said: “We got off to a very strong start in 2015, with Revenues up 5%, and Adjusted Operating Income growing 12% to a quarterly record of $1.8 billion. This led to a 23% increase in Adjusted EPS and puts us on track to achieve our goals for the year. We accomplished a lot in the quarter, led by Turner, which had its best quarter ever, with audience growth across a number of its networks. The NCAA Men’s Basketball Tournament was a huge multiplatform success, with its highest average television viewership in over two decades helping make TBS the #1 ad-supported cable network in primetime among adults 18-49 in the quarter. And March Madness Live served more than 80 million live video streams and grew its usage by almost 20% over last year’s tournament. Warner Bros. led the domestic box office for the quarter on the strength of American Sniper, which brought in well over $500 million globally. Warner Bros. also continued to lead the industry in television production, including the #1 comedy and unscripted series among adults 18-49 on television this season. HBO once again grew domestic subscribers in the quarter while continuing to gain acclaim for groundbreaking programming such as the recent documentaries Going Clear: Scientology and the Prison of Belief and The Jinx: The Life and Deaths of Robert Durst. The return of Game of Thrones reached a new premiere high, while also providing the backdrop for the highly-anticipated launch of HBO NOW, our standalone streaming version of HBO – which is off to a great start. Reflecting our strong commitment to provide direct returns to shareholders, we returned more than $1.4 billion in dividends and share repurchases year-to-date.”

Segment Performance

For earnings history and earnings-related data on Time Warner (TWX) click here.

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