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Time Warner Tops Profit Views, Acquires 10% Stake in Hulu

Time Warner Inc. posted second-quarter profit that beat analysts’ estimates as the owner of HBO and Turner found ways to squeeze more revenue out of cable and satellite distributors. The company also announced a 10 percent stake in the web-streaming service Hulu LLC.

Earnings excluding some items were $1.29 a share, New York-based Time Warner said in a statement Wednesday, exceeding the $1.16 average of analysts’ estimates compiled by Bloomberg. Revenue was $6.95 billion, compared with the $7.06 billion seen by analysts.

The results are a sign that Time Warner is still benefiting from its traditional cable business even as the TV industry grapples with declining ratings and cord-cutting.