Time Warner Inc. , one of the leading media conglomerates, came out with third-quarter 2016 results, wherein adjusted earnings of $1.83 per share easily beat the Zacks Consensus Estimate of $1.36 and jumped more than 46% year-over-year.
Including one-time items, earnings per share from continuing operations came in at $1.87 per share, up from $1.26 reported in the prior year quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has been unchanged over the past 30 days.
In the trailing four quarters, excluding the quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 11.6%.
Revenues: The company’s revenues increased 9.2% year over year to $7,167 million and also surpassed the Zacks Consensus Estimate of $7,001 million, primarily due to increase in revenues at Warner Bros.
Guidance: Time Warner has increased its 2016 guidance. Management projected adjusted earnings per share for 2016 between $5.73 and $5.83 including the net tax benefit of 28 cents. Excluding the tax benefit the company expects adjusted earnings in the range of $5.45 to $5.55 per share. The company had earlier projected adjusted earnings per share of $5.35 to $5.45.
Key Events: From Jan 1, 2016 through Oct 21, 2016, the company bought back about 31 million shares, aggregating approximately $2.3 billion.
Zacks Rank: Currently, Time Warner carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stock Movement: Time Warner’s shares are up 2.4% during pre-market trading hours following the earnings release.
Check back later for our full write up on Time Warner’s earnings report!
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Time Warner (TWX) Q3 Earnings & Revenues Beat Estimates
Time Warner Inc. , one of the leading media conglomerates, came out with third-quarter 2016 results, wherein adjusted earnings of $1.83 per share easily beat the Zacks Consensus Estimate of $1.36 and jumped more than 46% year-over-year.
Including one-time items, earnings per share from continuing operations came in at $1.87 per share, up from $1.26 reported in the prior year quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has been unchanged over the past 30 days.
In the trailing four quarters, excluding the quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 11.6%.
Revenues: The company’s revenues increased 9.2% year over year to $7,167 million and also surpassed the Zacks Consensus Estimate of $7,001 million, primarily due to increase in revenues at Warner Bros.
TIME WARNER INC Price, Consensus and EPS Surprise
TIME WARNER INC Price, Consensus and EPS Surprise | TIME WARNER INC Quote
Guidance: Time Warner has increased its 2016 guidance. Management projected adjusted earnings per share for 2016 between $5.73 and $5.83 including the net tax benefit of 28 cents. Excluding the tax benefit the company expects adjusted earnings in the range of $5.45 to $5.55 per share. The company had earlier projected adjusted earnings per share of $5.35 to $5.45.
Key Events: From Jan 1, 2016 through Oct 21, 2016, the company bought back about 31 million shares, aggregating approximately $2.3 billion.
Zacks Rank: Currently, Time Warner carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stock Movement: Time Warner’s shares are up 2.4% during pre-market trading hours following the earnings release.
Check back later for our full write up on Time Warner’s earnings report!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>