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Shares of the company, which owns HBO, CNN, Cartoon Network and
the Warner Bros film studio, climbed 2 percent to $90 in
premarket trading.
Dallas-based AT&T said last month it would buy Time Warner for
$85.4 billion in a bold move to acquire content. AT&T's offer
valued Time Warner at $107.50 per share.
Revenue from Warner Bros, the company's biggest unit by revenue,
rose 6.7 percent to $3.4 billion in the third quarter ended
Sept. 30, Time Warner said.
Until "Suicide Squad", which hit movie screens in early August,
Warner Bros has had few hit releases in recent quarters. As of
Oct. 30, "Suicide Squad" had grossed about $325 million,
according to Box Office Mojo.
Revenue at Time Warner's HBO unit, home to "Game of Thrones" and
"True Detective", rose 4.3 percent to $1.43 billion.
HBO faces stiff competition from streaming video services such
as Netflix and Amazon.com Inc's Prime service.
Time Warner took a 10 percent stake in video streaming site Hulu
in August, setting its sights on the web TV market.
The company's net income rose to $1.47 billion, or $1.86 per
share, in the third quarter from $1.04 billion, or $1.26 per
share, a year earlier.
According to Thomson Reuters I/B/E/S, Time Warner earned $1.55
per share, excluding a tax benefit of 28 cents per share and
other items, beating the average analyst estimate of $1.37.
Revenue rose 9.2 percent to $7.17 billion.
Analysts on an average had expected revenue of $6.98 billion.
(Reporting by Rishika Sadam in Bengaluru; Editing by Sriraj
Kalluvila and Sai Sachin Ravikumar)
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