Time Warner and Carlyle Group released the earnings reports for their first fiscal quarters before opening bell this morning. Time Warner reported adjusted earnings of $1.19 per share on $7.1 billion in revenue, beating estimates of $1.08 per share and $6.96 billion.

Carlyle Group posted earnings of 80 cents per share on $885 million in revenue for its first fiscal quarter. analysts had been looking for earnings of 70 cents per share and $796.3 million in revenue.

Time Warner Inc, The Carlyle Group LP Beat Earnings Estimates

Key metrics from Time Warner’s earnings report

Time Warner’s revenues increased 5% year over year, while adjusted operating income rose 12% to hit a new record of $1.8 billion. Adjusted earnings increased 23% from last year’s fourth quarter, and management noted growth across all of the company’s divisions. Reported earnings were $1.10 per share, compared to last year’s $1.50 per share.

Turner revenue increased from $2.593 billion to $2.71 billion. Home Box Office revenues rose from $1.339 billion last year to $1.398 billion. Reenue from Warner Bros. rose from $3.066 billion last year to $3.199 billion this year.

The cable giant also reaffirmed its full year guidance. Management expects adjusted earnings of between $4.60 and $4.70 per share

Key metrics from Carlyle Group’s earnings report

GAAP net income was 54 cents per share or $40 million. The firm said its first quarter earnings results were negatively impacted by a tax judgment in France. The judgment was related to a transaction exited by Carlyle Europe Real Estate Partners between 2007 and 2009 and amounted to $112 million. The judgment impacted GAAP income and economic net income by 11 cents per share or $34 million.

“The performance of our funds has been solid early in the year, with our carry funds up 6% in the first quarter and other products performing well,” said Carlyle Group Co-CEO William Conway in a statement. “We have been active investors with 10 new Corporate Private Equity investments and 24 new Real Assets investments in the first quarter alone.”

He also said they began the current quarter strong. As of the end of March, Carlyle Group had $35 billion in assets on its balance sheet.