Time Warner reports 94 cents a share in earnings in the second quarterWho needs Twenty-First Century Fox Inc ( FOXA)? Less than 24 hours after fighting off a buyout attempt by Rupert Murdoch and Fox, Time Warner Inc ( TWX) turned in scintillating second-quarter earnings of 98 cents a share. This figure topped Wall Street analyst estimates, who were projecting earnings of 84 cents a share. The excellent results were largely related to the company's success in containing costs and increased profits from HBO. Time Warner earned 83 cents a share in the year ago quarter.