HBO and Turner Networks have clearly defied the Wall Street’s earning expectations this summer. As reported by Variety on Wednesday, May 4, 2016, the Time Warner company, which started the year on an impressive note, reported a three percent growth in its revenue figures. The increase reached $7.3 billion during the first quarter of 2016, as compared to $7.1 billion last year, a figure that was in-line with the estimates churned out by the analysts.
However, these financial results do little to uplift the media conglomerate’s film unit, which continues to lag behind in revenue generation, even though they have strongly defied the Wall Street’s profit’s expectations about HBO and Turner Networks. HBO’s current financial performance, which also includes a 12 percent rise in its operating income to $2 billion seems to have clearly defied the Wall Street’s earning expectations.
Even with respect to the results about its earnings per share, the media company has all the reasons to celebrate. Its adjusted earnings topped out at $1.49 per share, not only bypassing the projected figure of $1.29, as estimated by the Wall Street analysts, but also showing an improvement over the $1.19 per share figure reported during the previous fiscal year.
Variety News: HBO, Turner Lift Time Warner Earnings
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