{"id":5121,"date":"2013-08-07T00:00:00","date_gmt":"2013-08-07T00:00:00","guid":{"rendered":"http:\/\/worldscreen.com\/tvusa\/2013\/08\/07\/time-warner-q2-profit-rises\/"},"modified":"2013-08-07T00:00:00","modified_gmt":"2013-08-07T00:00:00","slug":"time-warner-q2-profit-rises","status":"publish","type":"post","link":"https:\/\/worldscreen.com\/tvusa\/time-warner-q2-profit-rises\/","title":{"rendered":"Time Warner Q2 Profit Rises"},"content":{"rendered":"

NEW YORK: Time Warner has reported higher second-quarter profit, boosted by its film unit and TV advertising. <\/span><\/span><\/p>\n

Revenue was up 10 percent to $7.4 billion, and adjusted operating income grew 25 percent to $1.5 billion. Operating income increased 42 percent to $2.5 billion. <\/span><\/span><\/p>\n

At the Networks segment, which includes Turner Broadcasting and HBO, revenues increased 7 percent to $3.8 billion, with increases of 4 percent in subscription revenues, 11 percent in ad revenues and 5 percent in content revenues. The gains in ad revenues were driven by growth at Turner’s domestic entertainment networks, due to higher pricing, strong demand for the NBA Playoffs on TNT and the timing of the NCAA Tournament. Content revenues were up due to higher sales of HBO’s original programming. Adjusted operating income grew 13 percent to $1.3 billion. Operating income increased 31 percent to $1.3 billion. <\/span><\/span><\/p>\n

Film and TV Entertainment revenues rose 13 percent to $2.9 billion, thanks to the strong theatrical releases of Man of Steel<\/em>, The Hangover Part II <\/em>and The Great Gatsby<\/em>. The gains were also helped by an increase in international television syndication and SVOD revenues. This was partially offset by a decline in domestic TV licensing revenue due to the initial off-network availability of The Mentalist <\/em>in the prior year’s quarter. <\/span><\/span><\/p>\n

Jeff Bewkes, <\/span><\/span>Time Warner’s chairman and CEO<\/span><\/span>, said: "We had a very strong quarter and first half financially and operationally, putting us on track for another great year. During the second quarter, we grew revenues by 10 percent, Adjusted Operating Income by 25 percent, and Adjusted EPS by nearly 50 percent. Our Networks businesses, Turner and HBO, continued to shine, reflecting the success of our increased investments in distinctive programming that is resonating with audiences, advertisers and affiliates. For example, TNT and TBS finished the second quarter as the number one and number three ad-supported cable networks in prime time for adults 18-49 on the strength of original dramas like Falling Skies<\/em>, Major Crimes <\/em>and Dallas<\/em>, comedies like The Big Bang Theory <\/em>and Cougar Town <\/em>and another very strong showing for the NBA Playoffs. CNN also grew ratings by almost 70 percent in its key demo, taking share from competing news networks. HBO continues to benefit from the strongest programming lineup in its history, including Game of Thrones<\/em>, which finished its third season up more than 20 percent in viewers, and the made-for-HBO film Behind the Candelabra,<\/em> the most-watched HBO film in a decade. Underscoring that strength, HBO recently received 108 Primetime Emmy nominations, the most of any network for the thirteenth year in a row and more than double the closest competitor. <\/span><\/span><\/p>\n

"At Warner Bros., we had a fantastic quarter, including one of its most successful upfront seasons ever, with orders for 31 new and returning shows from the broadcast networks. And we had a strong theatrical quarter with our blockbuster reboot of the Superman<\/em> franchise, Man of Steel<\/em>, and The Great Gatsby.<\/em> Reflecting our confidence in our outlook and our commitment to stockholder returns, so far this year we’ve repurchased $1.8 billion of our stock and paid out over $500 million in dividends." <\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

NEW YORK: Time Warner has reported higher second-quarter profit, boosted by its film unit and TV advertising. Revenue was up 10 percent to $7.4 billion, and adjusted operating income grew 25 percent to $1.5 billion. Operating income increased 42 percent to $2.5 billion. At the Networks segment, which includes Turner Broadcasting and HBO, revenues increased …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[],"class_list":["post-5121","post","type-post","status-publish","format-standard","","category-top-stories"],"yoast_head":"\nTime Warner Q2 Profit Rises<\/title>\n<meta name=\"description\" content=\"Time Warner Q2 Profit Rises . NEW YORK, August 7: Time Warner has reported higher second-quarter profit, boosted by its film unit and TV advertising. . 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