Time Warner revenue rises nearly 5%

Time Warner Inc. reported better-than-expected profit and revenue growth in its first quarter, as March Madness programming helped drive audience growth in its Turner segment.

According to Reuters, the parent of Warner Bros. film studio and cable channels HBO, TNT and CNN posted earnings of $970 million, or $1.15 per share, down from $1.29 billion a year earlier. Revenue grew 4.8 percent to $7.13 billion.

Analysts were expecting earnings of $1.09 a share on revenue of $7 billion.

Read more from Reuters.