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Time Warner (TWX) reported its fourth quarter results before the opening bell on Wednesday, posting lower revenues and adjusted earnings than last year’s Q4.
TWX chairman and CEO Jeff Bewkes had the following comments: “We had another very successful year in 2014, with solid revenue growth and robust 18% Adjusted EPS growth – our sixth consecutive year of at least high teens Adjusted EPS growth. Our financial performance reflects the strength of our position as the world’s leading video content company. For the year, three of Turner’s networks – TBS, TNT and Adult Swim – ranked among ad-supported cable’s top 10 networks in primetime among adults 18-49. TNT was home to 6 of the top 15 original series on ad-supported cable in 2014, more than any other network, including the three most watched new series, The Last Ship, The Librarians, and Murder in the First …"
Time Warner raised its quarterly dividend to 35 cents from 31.75 cents, making for an annualized payout of $1.40. The dividend is payable on March 15 to all shareholders on record as of February 28. The stock goes ex-dividend on February 25.
TWX stock was up 29 cents, or 0.38%, in pre-market trading. YTD, the stock is down 4.85%.