Time Warner's Warner Bros. released the first part of the seventh and final installment of the Harry Potter movie franchise, Harry Potter and the Deathly Hallows: Part 1 in November, 2010. The film grossed $125 million in its first weekend, earning more than either of its prequels in opening weekend box office sales.
He also believes the company will improve its operating income in 2010 to close to $450 million from $246 million in 2009, due to its successful film and TV content. He also estimates at least mid single digit growth in its operating income in 2011 and 2012. "We believe Time Warner's cable networks (an estimated $4.2 billion operating income business in 2010), especially TBS and TNT, are making a favorable turn in ratings," he said in his Jan. 11 research note. Time Warner is positioned to benefit from the improving television and advertising market as well as expected higher ratings at its networks in 2011. He mentioned that he is not concerned about the threat of "cord cutting" as the company implements TV Everywhere. The company is scheduled to release its fourth-quarter earnings report on Feb. 2 before the market open. Analysts polled by Thomson Reuters estimate quarterly earnings of 62 cents a share. -- Written by Theresa McCabe in Boston. >To contact the writer of this article, click here: Theresa McCabe. >To follow the writer on Twitter, go to @TheresaMcCabe. >To submit a news tip, send an email to: firstname.lastname@example.org.