Time Warner's third-quarter profit rises on cable networks

Wed Nov 6, 2013 7:18am EST

Nov 6 (Reuters) - Time Warner Inc posted higher third-quarter profit on Wednesday, driven by growth in advertising and subscription fees at its cable networks.

Net income for Time Warner, which owns the CNN cable network, premium TV service HBO, and a movie studio, was $1.18 billion, or $1.26 cents per share, up from $822 million, or 84 cents a share, a year ago.

Revenue rose about 0.2 percent to $6.86 billion. Analysts expected $6.94 billion, according to Thomson Reuters I/B/E/S.