Time Warner (TWX) Solid Q3 Sends Stock Higher

Time Warner (NYSE: TWX) reported third-quarter results this morning that, on the whole, were positive. Earnings came in ahead of the consensus and revenues a hair light at $6.8 billion, compared to $6.91 billion expected. In 2011, Time Warner reported revenue of $7.07 billion in the third quarter of 2011.

Adjusted EPS rose 9 percent to $0.86, topping estimates by 4 cents.

"This performance illustrates that our investments in content and technology are continuing to pay off," said CEO Jeff Bewkes.

Bewkes noted strong momentum on Turner networks. TBS, for instance, was up 35 percent in primetime for adults 18-49 this quarter.

Looking forward, Time Warner reaffirmed its 2012 full-year business outlook and continues to expect adjusted EPS to grow in the low double digits.

Analysts were pleased with the beat in Cable Networks, a high-quality outcome, and no unusual items noted in the press release. "Results are good news, in our view," analysts at Deutsche Bank said.

Shares of Time Warner are higher by 4 percent in early trading on Tuesday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• SpaceX sets date for maiden earnings report: Why August 4 is make-or-break
• Cardinal Health to acquire AdaptHealth diabetes unit and Strive Medical for $360M
• Park Aerospace (PKE) Tops Q1 EPS by 3c