Wonder Woman boosts Time Warner profits
Time Warner has reported better-than-expected profits on the back of its hit superhero film Wonder Woman.
The US media firm posted an 11.6% rise in second-quarter net income to $1.1bn (£800m), driven by a strong performance by Warner Bros, which includes its movie business.
Wonder Woman, featuring Israeli actress Gal Gadot, had grossed about $800m worldwide by the end of July, it said.
The firm has already set a date of December 2019 for a sequel.
Time Warner said total sales had climbed 5% to $7.3bn in the three months to 30 June, despite a fall in advertising revenue in its Turner division, which owns news channel CNN.
Like other media companies, the firm has been struggling with the rise of streaming platforms such as Netflix, which has curbed ad spending on conventional TV networks.
Movies boost profit
Revenue from its HBO channel, home to hit fantasy TV series Game of Thrones, rose slightly to $1.48bn. However, analysts were expecting $1.51bn, according to the data company FactSet.
Time Warner performed best in its Warner Bros division, where revenues increased 12% to $3bn, due to higher film and video games sales.
The firm said Wonder Woman was already the highest-grossing live-action film by a female director, and the third-highest grossing Warner Bros movie ever at the US box office.
It also said the Lego Batman Movie and the sequel to Fantastic Beasts And Where to Find them had boosted sales.
Shares in Time Warner opened 0.16% higher in New York.
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