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Published on Aug 3, 2016
Shares
of Time Warner moved higher Wednesday after raising its profit outlook
for the year. But, for the latest quarter, the cable telecommunications
company posted a mixed report. Earnings of $1.29 a share, topped
analysts' expectations by 13 cents a share. Revenue of $6.95 billion for
the period fell short of Wall Street's forecasts. Time Warner expects
full-year earnings to be between $5.35 to $5.45 per share, which is up
from its previous forecast. This comes as Time Warner announced that it
will become a 10% owner of Hulu, the premium streaming TV service.
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