Time Warner beats by $0.23, beats on revs; continues to expect its pending merger with AT&T (T) to close before year-end 2017 (98.71)
- Reports Q3 (Sep) earnings of $1.82 per share, excluding non-recurring items, $0.23 better than the Capital IQ Consensus of $1.59; revenues rose 6.0% year/year to $7.59 bln vs the $7.40 bln Capital IQ Consensus.
- Co reaffirms its 2017 full-year business outlook. Co continues to expect its 2017 full-year Adjusted Operating Income to increase in the high single-digits, based on current foreign exchange rates.
- "We delivered very strong third-quarter results, keeping us on track to achieve our objectives for 2017. Both Turner and HBO achieved double-digit gains in Subscription revenues, including HBO's highest quarterly growth in 13 years, while Warner Bros. had a terrific quarter in theatrical, which all contributed to us increasing Operating Income by 11% and Adjusted Operating Income by 13%."
- Merger Update: Co continues to expect its pending merger with AT&T (T) to close before year-end 2017.