Credit: Shutterstock photoTime Warner Inc.TWX , one of the leading media conglomerates, came out with fourth-quarter 2016 results, wherein adjusted earnings of $1.25 per share easily beat the Zacks Consensus Estimate of $1.19 and jumped 17.9% year-over-year.
Including one-time items, earning per share came in at 40 cents per share, sharply down from $1.06 reported in the prior year quarter. AT&T, which has agreed to acquire media giant Time Warner is anticipated to close the deal by the end of 2017.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has been portraying a slight downtrend in the last 7 days.
In the trailing four quarters, excluding the quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 16.6%.
Time Warner Inc. Price, Consensus and EPS Surprise
Time Warner Inc. Price, Consensus and EPS Surprise | Time Warner Inc. Quote
Revenues: The company's revenues increased 11.5% year over year to $7,891 million and also beat the Zacks Consensus Estimate of $7,752 million, primarily due to growth at all operating units.
Key Events: In 2016, the company bought back about 31 million shares, aggregating approximately $2.3 billion.
Zacks Rank: Currently, Time Warner carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Check back later for our full write up on Time Warner's earnings report!
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
