Time Warner 2Q 17 earnings and Sodastream 2Q 17 earnings were released before opening bell this morning. Time Warner reported adjusted earnings of $1.33 per share on $7.3 billion in revenue, compared to the consensus estimates of $1.19 per share and $7.3 billion in revenue. In last year’s second quarter, Time Warner reported $7 billion in revenues and $1.29 per share in adjusted earnings.
Sodastream 2Q 17 earnings rose to 64 cents per share on $130.6 million, while analysts had been expecting 53 cents per share and $129.3 million in sales. In last year’s second quarter, the company reported 37 cents per share in earnings on $119.2 million in revenue.
Time Warner 2Q 17 earningsOn a GAAP basis, Time Warner 2Q 17 earnings rose to $1.34 per share from $1.20 per share last year. Turner revenues rose to $3.1 billion from $3 billion last year, driven by growth in subscription revenues, although ad revenues and content and other revenues declined.
Home Box Office revenues grew to $1.48 billion from $1.47 billion last year, also driven by higher subscription revenues. Warner Bros. revenues increased to $3 billion from $2.66 billion last year as theatrical and video game revenues grew on the back of the box office release of Wonder Woman. Home entertainment revenues were also higher due to the release of The LEGO Batman Movie and continuing strength from the previous release Fantastic Beasts and Wear to Find Them.
Time Warner reaffirmed its full-year guidance, which points to high-single-digit growth in its adjusted operating income. The company still expects the merger with AT&T to close before the end of this year; its guidance does not include any impacts from the merger.
After Time Warner 2Q 17 earnings were released, the company’s stock rose 1.3% to $103.75 in premarket trading.
Sodastream 2Q 17 earningsSodastream said sales of machine units increased 35% year over year to 859,000, while gas refill unit sales grew 10% to reach 8.3 million, a new record. Sparkling Water Maker Starter Kit sales increased to $46.9 million from $39 million a year ago, and Consumables sales grew to $81.7 million from $78.1 million last year. Sodastream’s gross margin expanded by 240 basis points to reach 53.1% as the company continued to optimize its products, leveraged infrastructure costs in higher production volumes, and introduced its Fizzi machine, which has higher margins.
The company said Western Europe revenues grew to $81.6 million from $74.4 million last year, while revenue from the Americas increased to $28.1 million from $26 million a year ago. Asia Pacific sales were flat at $13 million. Sales in Central and Eastern Europe, the Middle East, and Africa increased to $7.9 million from $5.8 million in the year-ago quarter.
After Sodastream 2Q 17 earnings were released, the company’s stock jumped 2.18% to $58.50 in premarket trades.