TIME Warner is reporting a 51 per cent increase in fourth-quarter earnings even as revenue remains largely unchanged. Rising fees from cable and satellite companies and higher ad revenue at the TV networks offset revenue declines at its movie studio and magazine businesses.
Net income was $US1.17 billion ($A1.13 billion), or $1.21 a share, for the final three months of 2012. That's up from $773 million, or 76 cents a share, a year earlier.
Adjusted for one-time items, earnings came to $1.17 per share. That beat the $1.10 per share that analysts expected.
Revenue was almost steady at $8.16 billion. Analysts surveyed by FactSet expected revenue of $8.22 billion.
The company expects 2013 adjusted earnings to be up in the low double-digit percentage.
Time Warner Inc is raising its quarterly dividend by 11 per cent to 28.75 cents per share.
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