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Turner, owner of channels such as CNN and TNT, said in April it
granted exclusive subscription video-on-demand rights to its
programs from Cartoon Network and Adult Swim to video-streaming
service Hulu.
The deal led to a 48 percent rise in content and other revenue
at Turner in the second quarter ended June 30, Time Warner said
on Wednesday.
The company also benefited from an increase in television
licensing revenue at its Warner Bros studio business as channels
licensed its popular "The Big Bang Theory" comedy.
Total revenue rose 8 percent to $7.35 billion, above the average
analyst estimate of $6.90 billion.
Net income rose to $971 million, or $1.16 per share, from $850
million, or 95 cents per share, a year earlier.
Excluding items, Time Warner earned $1.25 per share. Analysts on
average expected earnings of $1.03, according to Thomson Reuters
I/B/E/S.
The company's shares were up marginally in light premarket
trading on Wednesday. Up to Tuesday's close of $87.65, they had
risen about 3 percent this year.
(Reporting by Sagarika Jaisinghani and Anya George Tharakan in
Bengaluru; Editing by Maju Samuel and Anil D'Silva)
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