Time Warner (TWX) Stock Rises Following Third-Quarter Earnings Beat

NEW YORK (TheStreet) -- Shares of Time Warner  (TWX) rose 2.84% to $77.20 in morning trading Wednesday after the media company reported third-quarter earnings that beat analysts' expectations.

The company reported adjusted earnings of $1.22 a share. Revenue rose 3.3% year-over-year to $6.24 billion. Analysts polled by Thomson Reuters had expected earnings of 94 cents a share on revenue of $6.16 billion.

Time Warner also increased its earnings guidance for the full year. The company now expects percentage growth in the high teens compared to its previous forecast of the low teens. Time Warner based this forecast on 2013 full-year adjusted earnings of $3.51 per share.

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Analysts polled by Thomson Reuters expect earnings of $4.01 a share for the full year.

Separately, TheStreet Ratings team rates TIME WARNER INC as a "buy" with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate TIME WARNER INC (TWX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."

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