Time Warner no longer reports independent earnings. AT&T acquired the company in June 2018. Time Warner's last reported full-year net income as a standalone public company was approximately $5.24 billion for 2017. That figure reflected strong performance from HBO subscriptions, Warner Bros. film releases, and Turner advertising across CNN and TNT.
Earnings of Time Warner
Net income (USD billions) from the 1990 Time–Warner merger through FY2017. Red points mark loss years driven by AOL goodwill write-downs (2002–2003). Data ends at 2018 acquisition.
Annual Earnings Of Time Warner
| Year | Net Income (USD) | YoY Change |
|---|---|---|
| 2009 | $2.08B | — |
| 2010 | $2.58B | +24.0% |
| 2011 | $2.89B | +12.0% |
| 2012 | $3.02B | +4.5% |
| 2013 | $3.69B | +22.2% |
| 2014 | $3.83B | +3.8% |
| 2015 | $3.83B | Flat |
| 2016 | $3.14B | −18.0% |
| 2017 | $5.24B | +66.9% |
| 2018 | N/A (acquired) | AT&T merger |
Note: The 2017 earnings spike includes a tax benefit from the Tax Cuts and Jobs Act. The 2016 decline reflects restructuring charges related to the Time Inc. spinoff and Turner division write-downs.
Time Warner P/E Ratio
| Year | P/E Ratio | Note |
|---|---|---|
| 2009 | 13.7x | Post-AOL recovery |
| 2010 | 13.0x | −5.1% |
| 2011 | 11.4x | −12.3% |
| 2012 | 13.3x | +16.7% |
| 2013 | 16.5x | +24.1% |
| 2014 | 16.8x | +1.8% |
| 2015 | 14.4x | −14.3% |
| 2016 | 23.2x | +61.1% |
| 2017 | 14.2x | −38.8% |
| 2018 | N/A | Acquired by AT&T |
Note: The 2016 P/E spike reflects the reduced earnings base from restructuring charges. The 2017 ratio normalizes following the Tax Cuts and Jobs Act earnings benefit.