Time Warner (TWX) is expected to report Q2 earnings before the market open on Wednesday, August 1, with a conference call scheduled for 10:30 am ET.
Analysts are looking for a profit of 58c on revenue of $6.95B. The consensus range is 57c-62c for EPS, and $6.65B-$7.19B for revenue, according to First Call. In May, Time Warner reaffirmed its FY12 outlook for adjusted EPS growth in the low double digits off a 2011 adjusted EPS base of $2.89, consensus $3.21. On its Q1 earnings conference call, Time Warner said it expected FY12 results would be back-end weighted. At May's Nomura U.S. Media, Cable & Telecom Summit, Time Warner forecast a positive and steady turnaround for TNT in 2H and forecast "significant" growth in affiliate fees. During the quarter, Warner Bros. TV Group acquired Alloy Entertainment for over $100M and CNN President Jim Walton resigned from the company. Analysts and investors will listen for comments on "The Dark Knight Rises" and whether it has missed expectations because of the tragedy in Aurora, Colorado; the cumulative gross of the film reached $289.1M over the weekend. Additionally, the company may offer comments on fees between media companies and TV distributors. In the year-ago quarter, Time Warner reported adjusted EPS of 60c on revenue of $7.03B.