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Home / Business and Innovation / Time Warner reports profit that exceeded expectati...

Time Warner reports profit that exceeded expectations

Media company Time Warner has published results of activity in the fourth quarter. According to the report, due to box office hits such as the "Harry Potter" spinoff "Fantastic Beasts and Where To Find Them", a film based on the book by Joanne Kathleen Rowling, the company/'s profit exceeded expectations.

The New York-based media company reported an 11.5-percent rise in quarterly revenue, which reached $7.89b.

Worth to note that the revenue has increased in all three segments of Time Warner. But the largest growth was reported by Warner Bros. segment, which makes the most significant contribution to the company/'s revenue. This happened due to the box office of "Fantastic beasts and where to find them", which as of February 5 grossed more than $800 million.

The company also said it is ready to merge with Telecom giant AT&T, while the deal is expected to reach a record $85 billion. 
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