Time Warner Inc. (NYSE: TWX), which is currently in the process of merger with AT&T, announced its fourth-quarter and full-year higher-than-expected earnings, with the great success of its Home Box Office (HBO) channel.
According to the report released from Time Warner, the revenue of 2017 rose 7% to $31.3 billion, and earnings per share grew 34% to $6.64. Quarterly, revenue of the fourth-quarter grew 9% to $8.6 billion. The company's net income attributable to shareholders surged to $1.39 billion, or 1.75 cents per share, in the fourth quarter ended Dec. 31, mainly due to a gain of $1.06 per share related to changes to U.S. tax laws.
Additionally, the revenue from HBO went up 12.7 percent to $1.68 billion, beating analyst estimates of $1.65 billion.
In 2017, HBO added over 5 million domestic subscribers across its HBO and Cinemax services in 2017, up from 2 million a year ago, its largest annual increase ever. In 2017, HBO received 29 Primetime Emmy Awards, the most of any network for the 16th consecutive year, including Outstanding Comedy Series for Veep, Outstanding Limited Series for Big Little Lies and Outstanding Variety Talk Series for Last Week Tonight with John Oliver. In November 2017, HBO launched OTT services in 11 Central European countries.
In 2018, HBO received four Golden Globe Awards for Big Little Lies, the most of any network. Average viewership for the seventh season of Game of Thrones increased 28% year over year to 33 million viewers, a record for an HBO original series.