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After fending off a hostile take-over bid launched by Rupert Murdoch, Time Warner on Wednesday reported a second-quarter profit of $850 million.
The profit was up from $771 million in the same quarter a year ago, the entertainment company said in a statement. The company cited the success of the television hits Game of Thrones and True Detective for helping to boost earnings.
Revenue rose 3 per cent to $6.8 billion, according to the statement.
“We had another strong quarter reflecting the strength of our businesses and our potential for continued growth,” Chief Executive Jeff Bewkes said in the statement.
The earnings report came a day after Murdoch’s 21st Century Fox said it was withdrawing its takeover bid for Time Warner, which had rejected the company’s first offer of $80 billion.
Time Warner, whose properties include HBO and CNN, had rejected the acquisition offer three weeks ago.
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