Time Warner Inc. , one of the leading media conglomerates, came out with third-quarter 2017 results, wherein adjusted earnings of $1.82 per share substantially beat the Zacks Consensus Estimate of $1.58, but dipped 0.5% year-over-year.

Including one-time items, earnings per share came in at $1.73 per share, down from $1.87 reported in the prior year quarter. AT&T, which has agreed to acquire media giant Time Warner is anticipated to close the deal by the end of 2017.

Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has been portraying an uptrend in the last seven days. In the trailing four quarters, excluding the quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 16.7%.

Time Warner Inc. Price and EPS Surprise

Time Warner Inc. Price and EPS Surprise | Time Warner Inc. Quote

Revenues: The company’s revenues increased nearly 6% year over year to $7,595 million and surpassed the Zacks Consensus Estimate of $7,412 million. The increase was driven by gains in all segments.

Zacks Rank: Currently, Time Warner carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.  

You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Check back later for our full write up on Time Warner’s earnings report!

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