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Last Update: 08-Feb-12 09:59 ET
Time Warner Trades Higher Following This Morning's Earnings/Guidance
This morning, Time Warner (TWX $39.18 +1.08) reported fourth quarter earnings of $0.94 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus Estimate of $0.87; revenues rose 4.9% year/year to $8.19 bln vs the $8.11 bln consensus.
From January 1, 2011 through February 3, 2012, the Company repurchased ~144 million shares of common stock for ~$4.9 billion. These amounts reflect the purchase of 34 million shares of common stock for ~$1.2 billion since the amounts reported in the Company's third-quarter 2011 earnings release issued on November 2, 2011. As of December 31, 2011, the Company had ~$384 million remaining on its repurchase authorization. In January 2012, the Company's Board of Directors authorized an additional $4.0 billion for stock repurchases.
For fiscal year 2012, Co expects its FY12 percentage growth rate in Adjusted EPS to be in the low double digits off a 2011 Adjusted EPS base of $2.89; consensus +9.7% at $3.17. The outlook above does not include the impact of any future merger or unplanned restructuring and severance charges, the impact from sales and acquisitions of operating assets or the impact of taxes on the above items that may occur from time to time due to management decisions and changing business circumstances.
From January 1, 2011 through February 3, 2012, the Company repurchased ~144 million shares of common stock for ~$4.9 billion. These amounts reflect the purchase of 34 million shares of common stock for ~$1.2 billion since the amounts reported in the Company's third-quarter 2011 earnings release issued on November 2, 2011. As of December 31, 2011, the Company had ~$384 million remaining on its repurchase authorization. In January 2012, the Company's Board of Directors authorized an additional $4.0 billion for stock repurchases.
For fiscal year 2012, Co expects its FY12 percentage growth rate in Adjusted EPS to be in the low double digits off a 2011 Adjusted EPS base of $2.89; consensus +9.7% at $3.17. The outlook above does not include the impact of any future merger or unplanned restructuring and severance charges, the impact from sales and acquisitions of operating assets or the impact of taxes on the above items that may occur from time to time due to management decisions and changing business circumstances.
