A box office juggernaut in the box office this summer, the success of Wonder Woman is still being felt according to reports from Variety that Time Warner beat Wall Street expectations as displayed by the entertainment conglomerate’s second quarter earnings.
Analysts had projected that Time Warner would post per-share earnings of $1.19 on revenue of $7.3 billion. Time Warner outdid those predictions with earnings per-share of $1.33, up from $1.29 per-share in the prior-year period. Revenues grew 5 percent to $7.3 billion, even as operating income decreased 8 percent to $1.7 billion.
As for Warner Bros., which falls under the Time Warner umbrella, it was a big up and down. Revenues jumped 12 percent to $3 billion as Wonder Woman achieved massive success in theaters ($780 million earned worldwide), while Fantastic Beasts and Where to Find Them released on home entertainment platforms to follow its showing in theaters ($814 million earned worldwide). Operating income was down 28 percent to $223 million, however, on higher print and advertising expenses. Guy Ritchie’s King Arthur: Legend of the Sword certainly didn’t help the cause, earning $140 million worldwide.
Meanwhile, HBO’s revenues increased 1 percent to $1.5 billion on higher subscriber numbers, perhaps due to Game or Thrones Season 7, while experiencing declines in home entertainment and international licensing revenues. Operating income increased 10 percent to $531 million aided by lower programming costs.
This news comes as Time Warner awaits government approval for its $85 billion sale to AT&T, a deal expected to close by the end of 2017.
Gal Gadot‘s Wonder Woman is still playing in theaters, only giving it more time to climb the all-time box office chart for superhero movies, where it currently sits at No. 8 behind Spider-Man. You can read the synopsis for Wonder Woman below:
Before she was Wonder Woman, she was Diana, princess of the Amazons, trained to be an unconquerable warrior. Raised on a sheltered island paradise, when an American pilot crashes on their shores and tells of a massive conflict raging in the outside world, Diana leaves her home, convinced she can stop the threat. Fighting alongside man in a war to end all wars, Diana will discover her full powers… and her true destiny.
Directed by Patty Jenkins, the film stars Gal Gadot, Chris Pine, Connie Nielsen, Robin Wright, David Thewlis, Danny Huston, Elena Anaya, Ewen Bremner and Saïd Taghmaoui.