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Wednesday, February 5, 2014

Time Warner highlights HBO growth, "Gravity" boosts results, (NYSE: TWX)

Time Warner Inc reported better-than-expected quarterly profit and revenue on Wednesday, helped by the success of the space thriller "Gravity" released by its movie studio, and shed light on the performance of its cable units.The media company, which is focusing more on television as it gets closer to spinning off its publishing unit, broke out results for its premium movie network HBO for the first time.This should give investors a better look at the money-making division, which is often compared to Netflix, one of the highest-flying stocks of last year.HBO's revenue increased 4 percent to $4.9 billion, while adjusted operated income rose 8 percent to $1.7 billion. Time Warner Chief Executive Jeff Bewkes said in a statement that HBO recorded its biggest gain in domestic subscribers in 17 years.

Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX remained unchanged at $62.40. In the past year, the shares have traded as low as $50.70 and as high as $70.77. On average, 4975510 shares of TWX exchange hands on a given day and today's volume is recorded at 3519.