Time Warner Inc (TWX) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $1.29 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.13. Analysts had a consensus of $1.16. The company posted revenue of $6952.00 million in the period, compared to analysts expectations of $7065.42 million. The company’s revenue was down -5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS.
Many Wall Street Analysts have commented on Time Warner Inc. Company shares were Reiterated by Wedbush on Jul 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 88 from a previous price target of $82 .Time Warner Inc was Downgraded by FBR Capital to ” Mkt Perform” on Jul 26, 2016.
Time Warner Inc closed down -0.96 points or -1.25% at $75.78 with 48,36,490 shares getting traded on Tusday. Post opening the session at $76.79, the shares hit an intraday low of $75.605 and an intraday high of $77.19 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jun 10, 2016, Kenneth J Novack (director) sold 8,400 shares at $74.61 per share price. According to the SEC, on Jun 6, 2016, Gary L Ginsberg (Executive Vice President) sold 3,000 shares at $75.79 per share price. On May 10, 2016, Jeffrey L Bewkes (Chairman of the Board and CEO) sold 272,710 shares at $74.57 per share price, according to the Form-4 filing with the securities and exchange commission.
Time Warner Inc. (Time Warner) is a media and entertainment company. The Company operates in three segments: Turner which consists of cable networks and digital media properties; Home Box Office which consists of domestic premium pay television services and international premium pay and basic tier television services and Warner Bros. which consists of television feature film home video and videogame production and distribution of digital and physical home entertainment products. Turner operates over 165 channels globally. In the United States its networks and related properties include TNT TBS Adult Swim truTV Turner Classic Movies Turner Sports Cartoon Network Boomerang CNN and HLN. Outside the United States Turners portfolio of brands and digital businesses reaches consumers in over 200 countries.