Time Warner Beats 2Q Estimations With The Aid Of 'The Hangover Part II'

The entertainment giant ended 2Q with net gain of $638M, up 13.5% versus the time this past year, on revenues of $7B, up 10.2%. Earnings at 60 cents a share handily beat the Street's forecast of 56 cents. Experts also anticipated revenues of $6.8B. The cable systems produced $3.5B in revenues, up 9% because of enhancements in ad sales and deals for Cinemax originals including True Bloodstream and Bet On Thrones. In shot entertainment, sales of game titles includingMortal Kombat 9 and home video earnings from Harry Potter And Also The Deathly Hallows: Part 1 assisted to boost revenues 13% to $2.8B. Posting was the laggard, up 3% to $946M. Boss Shaun Bewkes noted that the organization has bought back $2.3B of their shares to date this year which reflects "our confidence within our competitive position and growth prospects." For which it's worth, the organization slightly up-to-date its profit outlook for 2011: In May it stated the percentage development in its modified earnings per share could be within the low teens this season. Now it states the rise is going to be "a minimum ofInch low teens.