Time Warner, which will be inside the process of being bought by AT&T, reported better-than-expected quarterly profit as well as revenue on Thursday, powered by the success of its latest superhero movie “Justice League.”
Revenue coming from Warner Bros, which includes the movie business as well as will be the company’s biggest unit by revenue, rose 4.8 percent to $4.05 billion. Analysts were expecting revenue of $4.03 billion, according to data as well as analytics firm FactSet.
“Justice League,” featuring Israeli actress Gal Gadot as well as American actor Ben Affleck, had grossed more than $655.9 million globally as of Jan. 28, according to tracking firm Box Office Mojo.
Revenue coming from Home Box Office (HBO), home to hit fantasy show “Game of Thrones,” rose 12.7 percent to $1.68 billion. Analysts were expecting revenue of $1.65 billion, according to data as well as analytics firm FactSet.
The company’s net income attributable to shareholders surged to $1.39 billion, or 1.75 cents per share, inside the fourth quarter ended Dec. 31, mainly due to a gain of $1.06 per share related to alterations to U.S. tax laws.
inside the year-ago quarter, the company earned $293 million, or 37 cents per share.
Revenue rose 9 percent to $8.61 billion, beating the average analyst estimate of $8.42 billion. According to Thomson Reuters I/B/E/S, Time Warner’s adjusted EPS was $1.60 per share, while the average analyst estimate was $1.43.