Time Warner Q4 Profit Beats Estimates; Provides FY14 Outlook - Quick Facts

(RTTNews) - Time Warner Inc. (TWX) reported that its fourth-quarter net income attributable to shareholders decreased to $983 million or $1.06 per share, from $1.11 billion or $1.15 per share, prior year. The company reported income from continuing operations attributable to shareholders of $1.0 billion, or $1.06 per share, compared to $1.1 billion, or $1.15 per share, last year. Adjusted income from continuing operations was $1.08 billion or $1.17 per share, for the quarter.

On average, 31 analysts polled by Thomson Reuters expected the company to report profit per share of $1.15 for the quarter. Analysts' estimates typically exclude special items.

Revenues were $8.565 billion, compared to $8.164 billion, prior year. Analysts expected revenue of $8.39 billion for the quarter.

Time Warner Inc. also provided its 2014 full-year business outlook. Time Warner's 2014 full-year business outlook excludes the results of Time Inc. for the current and prior years. The company expects its 2014 full-year percentage growth rate in adjusted income per share from continuing operations excluding Time Inc. to be in the low double digits off a 2013 adjusted earnings per share base excluding Time Inc. of $3.51.

Analysts expect the company to report fiscal 2014 profit per share of $4.25.