Ron Burgundy Posted February 10, 2016 Share Posted February 10, 2016 (Reuters) - Time Warner Inc , the owner of cable channels CNN and HBO and movie studio Warner Bros, raised its 2016 adjusted profit forecast and set a $5 billion share buyback program. The company, whose fourth-quarter profit beat expectations, also raised its dividend to 40.25 cents per share from 35 cents. However, revenue slipped 6 percent and came in shy of estimates, hurt by a lack of hit movie releases from Warner Bros and a strong dollar. The company's shares were down 3.5 percent in premarket trading on Wednesday. Time Warner said it expected adjusted earnings of $5.30-$5. ... View the full article Quote Link to comment Share on other sites More sharing options...
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