The hit film boosted quarterly profit and revenue at the media and entertainment giant. Fred Katayama reports.
"Wonder Woman" did wonders for Time Warner. It helped boost the media and entertainment giant's quarterly profit and revenue, both of which beat analysts' estimates. "Wonder Woman" has grossed about $800 million and is set for a sequel. Time Warner's expanded its top line across the board. Revenue at the company's movie studio, Warner Brothers, rose more than 12 percent. Revenue also rose at its Turner unit which includes cable channels like CNN and TNT, and at the unit behind the hit fantasy show "Game of Thrones", HBO. Evercore ISI analyst Vijay Jayant said, "With the acquisition of Time Warner Inc. by AT&T still on track to close by the end of 2017, investors are likely to remain focused on any development relating to the regulatory review of the deal." Time Warner shares rising at the market open Wednesday, adding to their 6 percent gain this year.