Time Warner Inc. (NYSE: TWX) came out with earnings and reported an adjusted $0.94 EPS and revenues were $8.2 billion. The prior year showed $0.67 EPS and $7.81 billion in sales; Thomson Reuters had estimates of $0.86 EPS on sales $8.06 billion.
The media giant is forecasting that 2012 adjusted earnings per share should be in the low double digit rates versus $2.89 EPS in 2011. If you just use 10% growth then you come to $3.18 EPS and Thomson Reuters has a consensus analyst target of $3.16 per share.
Shares closed at $38.10, but the stock is trading up over 4.5% around $39.90 on very thin volume in the pre-market session. That will mark a new 52-week high as the 52-week trading range is $27.62 to $38.62.
The market cap was already up at $38.1 billion before this news pop. The average volume is about 6.4 million shares per day.
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