Time Warner Inc.’s recent superhero flick – Wonder Woman – continues to win hearts of movie lovers. So far, the movie has not only grossed more than $715 million globally but has also received 92% rating on Rotten Tomatoes.
Moreover, the movie has raked in above $350 million at domestic box office, making it the 22nd fastest movie to reach the mark. Superb box office performance of the Wonder Woman has helped the company’s DC Extended Universe to reach a major milestone.
The four movies of the DC Extended Universe – Man of Steel, Batman v Superman: Dawn of Justice, Suicide Squad and Wonder Woman (still counting) has now garnered more than $3 billion worldwide. Batman v Superman: Dawn of Justice earned more than $870 million globally, while Man of Steel had garnered more than $660 million worldwide. Meanwhile, Suicide Squad which was released in Aug 2016, collected nearly $750 million. DC continues to extend its cinematic universe with Justice League being next in the line, slated to hit theaters on Nov 17, 2017.
We believe the remarkable performance of Wonder Woman will drive the Warner Bros. revenues in second-quarter fiscal 2017. In the first quarter, Warner Bros. revenues jumped 8% to $3,365 million.
Stock Performance & Other Development
In the past one year, the stock of this diversified media conglomerate has outperformed the Zacks categorized Media Conglomerates industry. The stock has surged 33.4%, while the industry advanced 6.2%. On the other hand, the broader Consumer Discretionary sector gained 17%.
Recently, in an effort to attract more young audience and increase advertising revenues, Time Warner has struck a deal with Snap Inc. (SNAP - Free Report) . Per the deal, Time Warner will create and produce 10 original shows annually over the next two years.
Time Warner will make variety of shows like scripted dramas, documentaries and comedies. Following the deal, the number of shows on Snapchat will increase to three per day from one by the end of 2017. Earlier, Snap had sealed similar deals with other companies such as Comcast Corporation’s NBC Universal and The Walt Disney Company’s (DIS - Free Report) ABC Networks.
Time Warner, which accepted the buyout offer of AT&T Inc. (T - Free Report) , currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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