double-skinned crabs double-skinned crabs double-skinned crabs double-skinned crabs double-skinned crabs double-skinned crabs double-skinned crabs double-skinned crabs double-skinned crabs double-skinned crabs double-skinned crabs double-skinned crabs vietnamese seafood double-skinned crabs mud crab exporter double-skinned crabs double-skinned crabs crabs crab exporter soft shell crab crab meat crab roe mud crab sea crab vietnamese crabs seafood food vietnamese sea food double-skinned crab double-skinned crab soft-shell crabs meat crabs roe crabs

Breaking News

Trump's attorney general pick Matt Gaetz withdraws from consideration
Business

Hit movies, HBO growth help Time Warner beat estimates

By
Alexandra Steigrad
Published Feb. 1, 2018
Updated Feb. 1, 2018, 4:08 p.m. ET

Box office hits from Warner Bros. — like “Wonder Woman” and “Justice League” — and strong subscriber growth from HBO, helped Time Warner produce better-than-expected fourth-quarter results, the media giant said Thursday.

Shares of the company, which is in the process of being bought by AT&T, closed up 1.9 percent on Thursday, to $97.17.

Time Warner expects adjusted operating income for the year to increase in the high single digits, it said, while awaiting the outcome of a Justice Department lawsuit aimed at blocking it being bought by AT&T for $85.4 billion.

“We remain excited about the proposed merger with AT&T, pending judicial review, and the potential to accelerate our pace of innovation and connect more directly with consumer,” Time Warner Chairman and Chief Executive Jeff Bewkes said on a conference call.

Shows like “Game of Thrones” and “Big Little Lies” aided HBO’s 16 percent increase in subscription revenues, to $206 million, in the quarter.

Total revenues for HBO expanded 12.7 percent, to $1.7 billion. At Turner, revenues increased 10 percent, to $3.12 billion, thanks to a 14 percent increase in subscription sales. Meanwhile at Warner Bros., revenues rose 4.8 percent, to $4.05 billion, due to the hit movies and higher games revenues from “Middle-earth: Shadow of War.”

Overall for the quarter, Time Warner’s diluted net income per share reached $1.75 on revenue of $8.61 billion. Wall street was expecting $1.43 on revenue of $8.42 billion.