Time Warner Q1 Adj. EPS Tops Street - Quick Facts

(RTTNews) - Media and entertainment giant Time Warner Inc. (TWX), including Time Inc., reported a significant growth in first-quarter 2014 net income attributable to shareholders to $1.29 billion, or $1.42 per share, from $754 million, or $0.79 per share, in the earlier year quarter.

Including Time Inc., adjusted income per share from continuing operations were $0.91, a 20% increase from $0.76 last year. On average, 27 analysts polled by Thomson Reuters expected earnings per share of $0.88 for the quarter. Analysts' estimates typically exclude one-time items.

For the first quarter, excluding Time Inc., the firm posted adjusted earnings per share of $0.97, versus $0.77 for the year-ago quarter, reflecting higher adjusted operating income and fewer shares outstanding.

The firm clocked revenues of $7.55 billion in the quarter, compared with the prior-year figure of $6.94 billion, whereas 23 analysts estimated revenues of $6.61 billion. Excluding Time Inc., quarterly revenues increased 10% to $6.8 billion in the first quarter of 2014 due to growth at Warner Bros., Turner and Home Box Office.

Further, the board declared a regular quarterly cash dividend of $0.3175 per share, payable in cash on June 15, 2014 to stockholders of record on May 31, 2014.