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Strong video game releases help Time Warner to increased full-year profits

Time Warner posted financial results for the full 2011 fiscal year today, noting an increase in revenue and profits year-over-year for its video game division.
Time Warner posted financial results for the full 2011 fiscal year today, noting an increase in revenue and profits year-over-year for its video game division. The company's Filmed Entertainment sector, which houses its film, television, video and video game production, saw higher revenues thanks in part to a number of key video game releases and a "stronger" overall video game slate during the year, it said in a statement. In particular, Warner noted that Batman: Arkham City shipped more than 6 million units worldwide, and was one of the best-selling games in North America during the fiscal year. For the year ended December 31, 2011, the company's Filmed Entertainment division saw revenues of $12.6 billion, up compared to $11.6 billion year-over-year, and operating income of $1.3 billion, up compared to $1.1 billion year-over-year. In terms of the fourth quarter, revenues recorded were $3.9 billion, up compared to last year, and operating income was $427 million, the same as last fiscal year. Overall, the company posted total revenues of $29.9 billion, up compared to $26.9 year-over-year, and operating income of $5.8 billion, up compared to $5.4 billion year-over-year.

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