The US powerhouse owns a number of international recognised brands including the HBO and CNN television networks and the Warner Brothers movie company.
In the last twelve months’ Time Warner’s film unit has been boosted by the success of the likes of the latest Superman movie, Man of Steel and the cinematic update of The Great Gatsby. Meanwhile its coverage of NBA Basketball in the US helped to drive cable television advertising up by eleven percent.
In total, quarterly profits were $711 million, up from $413m a year ago. The firm also lifted its full-year profit outlook. Meanwhile, revenue rose by some ten percent to $7.44 billion from $6.74 billion, ahead of analysts’ forecasts of $7.11 billion.
Chairman and chief Jeff Bewkes said investment in quality programming had helped to draw in viewers and advertisers.
