Time Warner Inc. (TWX) reported fourth-quarter adjusted EPS of $2.66 compared to $1.25, prior year. Adjusted EPS in the current year quarter included a tax provision benefit of $1.06 related to the U.S. tax reform legislation enacted at the end of 2017. On average, 23 analysts polled by Thomson Reuters expected the company to report profit per share of $1.43 for the quarter. Analysts' estimates typically exclude special items. Adjusted operating income increased 9% to $1.9 billion due to growth at Turner and Home Box Office and lower corporate expenses, partially offset by decreases at Warner Bros. and a negative swing in intercompany eliminations.
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