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Time Warner revenue beats estimates

Time Warner reported a better-than-expected 5 percent rise in quarterly revenue, helped by growth in its Warner Bros movie studio business and premium TV service Home Box Office (HBO).

Revenue rose to $8.56 billion in the fourth quarter, from $8.16 billion a year earlier. Analysts had expected $8.39 billion, according to Thomson Reuters I/B/E/S.

Time Warner's net income fell to $983 million, or $1.06 per share, from $1.11 billion, or $1.15 per share.

After the earnings announcement, the company's shares rose in pre-market trading. (Click here to get the latest quotes.)

By Reuters. CNBC contributed to this report.


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