Stock Analysis on Net
Stock Analysis on Net

Time Warner Inc. (NYSE:TWX)

$22.49

This company has been moved to the archive! The financial data has not been updated since April 26, 2018.

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Paying user area

Try for free

Time Warner Inc. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Time Warner Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
Revenues
Costs of revenues
Gross profit
Selling, general and administrative
Amortization of intangible assets
Restructuring and severance costs
Asset impairments
Gain (loss) on operating assets, net
Operating income
Interest expense, net
Other income (loss), net
Income from continuing operations before income taxes
Income tax (provision) benefit
Income from continuing operations
Discontinued operations, net of tax
Net income
Net loss attributable to noncontrolling interests
Net income attributable to Time Warner Inc. shareholders

Based on: 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31).

Revenue Trends
The revenue figures exhibit notable fluctuations over the examined periods. The first four quarters of 2013 show an upward trend from $6,939 million to $8,565 million. However, in 2014, revenues generally decline in the first three quarters before recovering in the last quarter. From 2015 through early 2016, revenues fluctuate moderately, followed by a significant rise in the last quarter of 2016. In 2017 and the first quarter of 2018, revenues remain relatively strong, peaking at $8,611 million at the end of 2017 before slightly dropping to $7,996 million in March 2018.
Cost of Revenues
Costs of revenues follow a pattern relatively parallel to revenues, with some fluctuations. In 2013, these costs rise and fall in line with revenue trends. A noticeable increase in cost is recorded in the fourth quarter of 2017, reaching $5,181 million, which coincides with the highest revenue figure. The costs consistently represent a significant portion of revenues, indicating enduring pressure on gross margins.
Gross Profit
Gross profit trends are somewhat stable but reflect the volatility in revenues and costs. Initial quarters of 2013 show a moderate increase in gross profit, peaking at $3,789 million in December 2013. Gross profit then dips in 2014, matching the fall in revenue and partial cost control. From mid-2015 to early 2016, gross profit oscillates but recovers notably at the end of 2016. The period from 2017 through March 2018 maintains relatively high gross profit levels, generally above $3 billion.
Selling, General and Administrative Expenses (SG&A)
SG&A expenses display a downward shift in 2014 compared to 2013, indicating some reduction efforts. Notably, the first quarter of 2014 records a significant drop in these expenses relative to the same quarter in the previous year. However, from 2015 onward, SG&A expenses again fluctuate, mostly increasing towards the later quarters, with particularly high values in the fourth quarter of 2016 and throughout 2017. This rise may affect operating income unless offset by revenue gains.
Amortization of Intangible Assets and Restructuring Costs
Amortization remains relatively stable across periods, generally around $45–$60 million per quarter, with no significant spikes. Restructuring and severance costs are generally low with occasional spikes, notably in Q3 2014 with $303 million, significantly impacting operating results during that quarter. These costs are sporadic and generally do not form a consistent part of expenses.
Operating Income
Operating income exhibits substantial variability. It peaks in September 2013 at $1,844 million, then declines markedly in 2014, with the lowest point reported in Q3 2014 ($971 million). Recovery follows from 2015 onward, with another peak in Q4 2017 at $2,245 million. Operating income generally follows revenue trends but is influenced by fluctuating costs and one-time items.
Interest Expense and Other Income (Loss)
Interest expense remains fairly stable, fluctuating between $200 million and $300 million in the examined periods, showing a slight declining trend toward 2018. Other income/loss, however, is highly volatile with some quarters showing significant negative amounts (e.g., -$993 million in Q4 2016) and others positive. Such variability indicates irregular items affecting net income noticeably.
Income Before Income Taxes and Tax Provisions
Income before tax broadly tracks operating income trends but shows more pronounced fluctuations, particularly a significant dip in Q4 2016. Income tax provisions vary markedly, with notable tax benefits in specific quarters such as Q3 2013 and Q4 2017. This variability impacts net income significantly and indicates complex tax circumstances or adjustments.
Net Income and Discontinued Operations
Net income largely reflects trends seen in income from continuing operations and shows growth over the full period analyzed, reaching a peak in early 2018 at $1,642 million. Discontinued operations contribute irregular and relatively small amounts, with some positive and negative impacts noted sporadically, but overall have a limited effect on consolidated net income. The net income attributable to shareholders follows the overall net income trend closely.
Summary of Financial Health and Performance
The company demonstrates a capacity to generate significant revenue and maintain gross profits despite some volatility. Cost management appears challenging due to fluctuations in SG&A expenses and occasional large restructuring charges. The stability of interest expenses is counterbalanced by volatile other income/loss components, which cause income before taxes and net income variations. Tax provisions add further variability to profitability. Overall, profitability trends upward, culminating in strong net income results by early 2018, signaling resilient operational performance amidst a dynamic financial environment.