Time Warner beats on earnings and revenues as demand rises for high-speed services

Media giant Time Warner has beaten analyst expectations, with adjusted earnings per share at $1.69 ($1.64 estimated) and revenues of $5.6bn ($5.58bn estimated) (release).

The company said that total revenues grew by 2.7 per cent over the year, driven by growth of 21.8 per cent in business service revenue and 12.5 per cent in residential high-speed data revenue.

Glenn Britt, chairman and CEO:

Time Warner Cable continues to build significant shareholder value by investing in rapidly expanding Business Services and by revitalizing our Residential Services operations.

I am pleased with our progress in operations and expect to see the benefits in the second half of the year and in 2014.