Time Warner 4Q earnings up, raises dividend 11 pct

Feb 06, 2013

Time Warner is reporting a 51 percent increase in fourth-quarter earnings even as revenue was largely unchanged. Rising fees from cable and satellite companies and higher ad revenue at the TV networks offset revenue declines at its movie studio and magazine businesses.

Net income was $1.17 billion, or $1.21 a share, for the final three months of 2012. That's up from $773 million, or 76 cents a share, a year earlier.

Adjusted for one-time items, earnings came to $1.17 per share. That beat the $1.10 per share that analysts expected.

Revenue was almost steady at $8.16 billion. Analysts surveyed by FactSet expected revenue of $8.22 billion.

The company expects 2013 adjusted earnings to be up in the low double-digit percentage.

. is raising its by 11 percent to 28.75 cents per share.

Explore further: Alibaba surges in Wall Street debut (Update)

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