Time Warner earnings get boost from college hoops, CNN | Stephen Battaglio, LA Times
Time Warner’s first quarter earnings showed year-to-year improvements in revenues and profits thanks to strong performances from its TV units Turner Broadcasting and HBO.
Revenues grew by 3% to $7.3 billion, while adjusted operating income was up 11% to $2 billion.
The company said Wednesday that Tuner saw an 11% jump in subscription revenue, as it has seen ratings gains and higher carriage fees from cable and satellite operators. The unit, which includes cable networks TBS, TNT and CNN, is also benefiting from a robust TV advertising market.