Time Warner, the mass media entertainment conglomerate that owns Warner Bros. finds its First Quarter earnings beating its original estimates.
On Thursday, Time Warner reported that received higher earnings than originally expected – although there were some declines within all of its units that include the likes of Warner Bros., Turner Broadcasting System and HBO.
$8 billion in revenue was reported for the conglomerate, which is an increase of 3% from last year’s First Quarter earnings. Net income for Time Warner rose from $1.4 billion to $1.6 billion and was brought up by a $132 million income tax benefit in comparison to the $470 million tax provision from this period last year.
Time Warner also reporteda djusted earnings of around $2.28 per share. This is in comparison with $1.66 per share from this period last year.
Also, income from Time Warner’s business units dropped 13% to $1.8 billion while its adjusted operating income dropped 8% to $2 billion.
AT&T looks to acquire Time Warner for $85.4 billion, pending its current legal battle with the Department of Justice.
Here is what Time Warner chairman and CEO Jeff Bewkes had to say regarding the pending merger with AT&T:
“We look forward to the resolution of the legal challenge to our pending merger with AT&T and remain excited about the benefits of the merger, such as the potential to further strengthen our businesses by accelerating our innovation and increasing our ability to connect more directly with consumer.”
What do you think of this news? Do you think Time Warner’s numerous units will help increase its earnings with the next three quarters of the year? Sound off in the comments below, and be sure to continue to follow Heroic Hollywood regarding Time Warner, its numerous assets and its pending merger with AT&T.
9 Times Joker Fought The Justice League And Won
The Joker is more than just a thorn in Batman’s side. The Clown Prince of Crime has taken on various members of the Justice League and lived to laugh another day. His dastardly plots are dangerous for everyone, and sometime he wants to take on an opponent who doesn’t know him as well as Batman does. Out of the entire superhero community, Batman clearly knows Joker best, so it makes sense that sometimes he wants to stretch his creative muscles and try and take down other heroes.
The character may physically just be a human being, but he still poses a threat to god-like figures like Superman and Wonder Woman. He may hurt his hand if he directly punches the last son of Krypton, but that doesn’t mean he can’t hurt him just as easily as he can anyone else. No matter how confusing he may be, Joker’s an intelligent, ruthless villain who happily picks on anybody he wants.
Hit Next to learn discover the ten times Joker fought the Justice League!