Time Warner Raises Dividend As Q4 Earnings Beat Expectations

The latest earnings report will send analysts back to their spreadsheets: With the spin off of Time Inc planned for mid-year, Time Warner has begun to report separate results for the Turner networks and HBO. But the entertainment giant should have a good day with Q4 results that, at first glance, appear to have beaten most expectations, a forecast for low double digit earnings growth in 2014, and a return of capital via a 10% increase in the quarterly dividend and a new $5B share repurchase. Time Warner reported net income of $983M, down 11.6% vs last year’s Q4, on revenues of $8.57B, +4.9%. The top line beat forecasts for $8.39B. Excluding one-time items, earnings came in at $1.17 a share, ahead of forecasts for $1.15.

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