11 Feb, 2016 -Media giant Time Warner has revealed modest gains in its 2015 financial year, buttressed by strong performance in its Turner and Home Box Office (HBO) divisions.
For the fiscal 12 months ended 31 December 2015, the company reported that full-year revenues and adjusted operating income increased 3% and 19% respectively from 2014 to $28.1 billion and $6.9 billion. The growth in adjusted operating income was said to have benefited from lower programming charges at Turner and restructuring and severance charges across the company as a whole, partially offset by a swing in intersegment eliminations. Revenues and adjusted operating income included the unfavourable impact of foreign exchange rates of approximately $1.1 billion and $480 million, respectively, in the year. Operating income increased 15% from 2014 to $6.9 billion.
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