Time Warner nailed Wall Street’s revenue forecast and bested its projected earnings per share for its 2014 third quarter.
Analysts estimated that Time Warner would report earnings per share of $0.94 for 2014’s third quarter on $6.2 billion in revenue. In terms of the latter, that $6.2 billion was exactly what the company reported on Wednesday, which represented a three percent uptick from 2013’s third quarter.
Meanwhile, Time Warner’s reported EPS exceeded estimates. Adjusted EPS — which included a $639 million tax benefit — was $1.22, way up from $0.91 for the year-ago quarter. Excluding the tax benefit, adjusted EPS would have been $0.97,