Stocks

Time Warner Inc And Yum! Brands Inc. Beat Earnings Estimates

Time Warner and Yum! Brands released their latest earnings reports before opening bell this morning. Time Warner reported adjusted earnings of $1.66 per share on $7.74 billion in revenue, compared to the analyst estimates of $1.45 per share and $7.67 billion in revenue. In last year’s first quarter, the company reported $1.49 per share in adjusted earnings and $7.3 billion in revenue.

Yum! posted adjusted earnings of 65 cents per share on $1.42 billion in revenue, compared to the consensus estimates of $1.39 billion and 59 cents per share. In last year’s first quarter, the fast food chain operator reported $1.44 billion in sales and 55 cents per share in revenue.

Time Warner sees growth in all divisions

Time Warner earnings
By Warp3 [Public domain], via Wikimedia Commons
Time Warner’s GAAP earnings rose to $1.80 per share from $1.51 in last year’s first quarter. Home Box Office revenue rose to $1.57 billion from $1.51 billion last year, while consensus was looking for $1.55 billion. Turner revenue grew to $3.09 billion, which was in line with the consensus, from $2.91 billion last year. Warner Brothers revenue increased to $3.37 billion from $3.11 billion a year ago; consensus had been looking for $3.23 billion.

“Warner Bros. delighted audiences in both film and television, with global hits in Kong: Skull Island and The LEGO Batman Movie and more series across broadcast for the current season than any other studio,” Time Warner Chairman and CEO Jeff Bewkes said in a statement. “Turner had another successful airing of the NCAA Division I Men’s Basketball Tournament across platforms, while CNN grew its total day ratings by 21% among adults 25-54, and remained the leader in digital news.”

Shares of Time Warner were unchanged at $99.33 in premarket trades this morning.

Yum! Brands shares rise

yum brands
By Yum! Brands, Inc. [Public domain], via Wikimedia Commons
Yum! Brands’ GAAP earnings rose to 77 cents per share from 54 cents per share in the year-ago quarter. Worldwide system sales increased 5% year over year on the back of a 2% increase in same store sales and a 3% increase in net units. Same store sales at the Taco Bell Division increased 8%, while system sales for the division grew 12%. KFC Division system sales grew 5% year over year on the back of a 2% increase in same store sales for the division. System sales for the Pizza Hut Division were flat with last year as same store sales in the division declined 3% year over year.

Shares of Yum! Brands jumped by as much as 2.2% to $67.80 in premarket trading.