“Suicide Squad” may have been divisive among fans and critics, but it helped propel Warner Bros. and parent company Time Warner to a strong third quarter of 2016, according to Variety.
Time Warner revenue rose 9% to $7.2 billion, with operating income climbing 10% to $2 billion. For the three-month-period ending in September, earnings-per-share jumped 48% to $1.87. Thomson Reueters predicted revenue slightly under $7 billion on earnings of $1.37 a share.
It was announced two weeks ago that AT&T has a deal in place to buy Time Warner for approximately $85 billion. On the potential deal, Time Warner chief Jeff Bewkes says, “Combining with AT&T is the natural next step in the evolution of our business and allows us to significantly accelerate our most important strategies.”
A strong showing from Clint Eastwood’s “Sully” aided “Suicide Squad” in Warner Bros. overall numbers, along with solid advertising and subscription revenue at Turner, which is a part of the Time Warner family.
While Warner Bros. watched tentpole franchises like “Harry Potter” and “The Hobbit” reach the end of their runs, box office returns were surprisingly strong during the quarter. Revenues for ticket sales increased 7% to $3.4 billion and operating income increased 11% to $428 million. Warner Bros. has what could potentially be another new franchise in the “Harry Potter” spinoff “Fantastic Beats and Where to Find Them,” set to be released in theaters on November 18.
“Suicide Squad” will be available digitally on November 18 and on Blu-ray December 5.
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