Time Warner’s first quarter revenue results of 2015 was released today, the results show an increase of 5 percent to $7.1 billion in the first quarter, with growth across all divisions (including Warner Bros. and HBO) and a particularly strong performance from its Turner channels, the same division of Time Warner that Cartoon Network is a part of.
First-quarter net income totaled $970 million compared to $1.3 billion a year ago. Time Warner’s cable content division, Turner Broadcasting System, reported an increase of 5% revenue from last year, rising to a total of $2.7 billion. Turner also saw 4% growth in ad revenue, 3% in pay-tv subscription revenues and 25% in content and other revenue.
Jeff Bewkes, Time Warner’s chairman and CEO made this statement in regards the increase of revenue and Turner’s record audience growth results.
“We got off to a very strong start in 2015, with revenues up 5 percent, and adjusted operating income growing 12 percent to a quarterly record of $1.8 billion. This led to a 23 percent increase in adjusted EPS and puts us on track to achieve our goals for the year. We accomplished a lot in the quarter, led by Turner, which had its best quarter ever, with audience growth across a number of its networks.”