NEW YORK (TheStreet) -- Shares of Time Warner Inc (TWX) continue to rise, up 2.95% to $77.18 Wednesday, after the media company raised its full year profit outlook this morning following a better than expected third quarter earnings report.
The company said it now expects a percentage growth in the high teens from last year's full year earnings of $3.51 a share, up from its previous forecast of a percentage rise in the low teens.
Time Warner said its higher than expected third quarter revenue and profit was helped by higher subscription fees for channels offered by its Turner Broadcasting and Home Box Office businesses.
Time Warner reported third quarter earnings of $1.22 per share, a rise from $1.01 per share a year ago, and topping analysts' estimates of 94 cents per share.
The company's revenue fell to $6.24 billion for the period from $6.86 billion last year, but beat analysts' estimates of $6.16 billion.
Separately, TheStreet Ratings team rates TIME WARNER INC as a Buy with a ratings score of A.
- You can view the full analysis from the report here: TWX Ratings Report