Time Warner grows its sales

Media giant Time Warner has reported a second quarter net income of $638m (£388.8m), 14 per cent higher than this time last year. Its sales outdid expectations, rising 10 per cent to $7bn, reflecting its film revenue rising by 13 per cent. The firm’s success has been accredited to blockbusters like the Hangover 2 and video games such as Mortal Kombat