Media conglomerate Time Warner (TWX) will be reporting results for the latest quarter Wednesday morning before the bell. Analysts are expecting earnings of $1.10 per share, up from adjusted earnings per share of $0.94 on revenues of $8.2 billion in the year-ago period. Diluted income per share was $0.76.
In November, the entertainment giant reported a 6% decline in third-quarter revenue as a result of declining print subscription and advertising revenues.
Last week, the company's magazine division, Time Inc., said it is slashing 6% of its global workforce in line with its plans to become "leaner, more nimble and to operate on multiple platforms."
In another key development, Time Warner recently appointed Kevin Tsujihara as the next chief executive of the Warner Bros. studio. Tsujihara has served as the president of the studio's home entertainment division since 2005.
The company, in recent times, has been narrowing its focus on the content division ever since it divested its AOL (AOL) and cable TV operations. Apart from net income, investors would also like to hear more on the company's strategies going forward, especially in the wake of these recent developments.
The stock is up a robust 16% during the last three months and is presently trading near Morningstar's fair value estimate.
Gazala Parveen does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.