Total adjusted operating income for the quarter increased 24.6 percent on the year to $1.5 billion. Operating income in the Networks segment, which accounts for about 80 percent of total income, increased 30 percent on the year to $1.2 billion. Income in the Film and TV Entertainment segment, about 12 percent of the total, increased 34 percent to $184 million. Income in the publishing segment increased 27 percent to $124 million.
The company made note of the fact that Game of Thrones viewership averaged 14.2 million per episode during the third season, a 20 percent increase over the second season and the second-highest viewership for HBO following The Sopranos.
While chief competitors like Discovery Communications (NASDAQ:DISCA) and CBS (NYSE:CBS) shouldn’t be underestimated, Time Warner offers the most value, especially to the dividend investor. Time Warner has increased its dividend steadily throughout the past several years, even increasing its dividend during the financial crisis. The company reported with its second-quarter results that it had repurchased 32 million shares for $1.8 billion this year through August 2.