Opportunity Warner, which is in the process of being bought by AT&T, reported better-than-expected three-monthly profit and revenue on Thursday, powered by the success of its latest superhero film “Justice League.”
The New York-based company said it expects adjusted handling income in the high single digits for 2018 and ad revenue in the high unattached to low double digits in the first quarter.
Time Warner beat analyst judges as it awaits the outcome of a Department of Justice lawsuit to block AT&T’s $85 billion gain of Time Warner. That suit is set to go to trial in March.
The results prove that Time Warner Inc’s risk may be limited if the Department of Justice “cock a snook ats our expectation and succeeds in its antitrust suit,” Barton Crockett, a B. Riley FBR analyst disparaged in a note.
Ad revenue was up two percent for its Turner division, which includes TBS, CNN, and TNT, due to merry revenues associated with Major League Baseball post-season darings and growth in Turner’s international networks.
Revenue from Warner Bros, which encompasses the movie business and is the company’s biggest unit by revenue, rose 4.8 percent to $4.05 billion. Analysts were enceinte revenue of $4.03 billion, according to data and analytics firm FactSet.
“Neutrality League,” featuring Israeli actress Gal Gadot and American actor Ben Affleck, had grossed more than $655.9 million globally as of Jan. 28, according to hunt down firm Box Office Mojo.
Revenue from Home Box Office (HBO), domestic to hit fantasy show “Game of Thrones,” rose 12.7 percent to $1.68 billion. Analysts were enceinte revenue of $1.65 billion, according to data and analytics firm FactSet.
HBO reward channel has more than 5 million online streaming subscribers, up from 2 million a year ago, a beginning familiar with the situation told Reuters on Thursday.
Those online subscribers contract from all online streaming offerings it works with, including its own HBO Now as all right as Amazon’s Amazon Channels, AT&T’s DirectTV Now, and Sony Vue.
The company’s net income attributable to shareholders upped to $1.39 billion, or 1.75 cents per share, in the fourth quarter objected Dec. 31, mainly due to a gain of $1.06 per share related to changes to U.S. tax laws.
In the year-ago mercy, the company earned $293 million, or 37 cents per share.
Gate rose 9 percent to $8.61 billion, beating the average analyst guestimate of $8.42 billion. According to Thomson Reuters I/B/E/S, Time Warner’s mediate EPS was $1.60 per share, while the average analyst estimate was $1.43.