The performance topped analysts' estimates. Shares rose in premarket trading on Wednesday.
Chairman and CEO Jeff Bewkes said in a statement that "The Lego Movie" helped create another franchise for the company and led all releases at the domestic box office. Warner Bros. revenue climbed 14 per cent to $3.1 billion in the quarter.
Home Box Office scored with "True Detective," the most-watched freshman series in the cable network's history. Bewkes said that "Game of Thrones" continues its surge, with its season 4 premiere earlier this month drawing HBO's biggest audience since "The Sopranos" finale. Revenue at HBO increased 9 per cent to $1.3 billion.
Bringing the NCAA Men's basketball final four to cable television for the first time was a win for Turner, pulling in audiences in the key demographics of adults aged 18-34 and 18-49. Turner's quarterly revenue rose 5 per cent to $2.6 billion.
For the three months ended March 31, the media and entertainment company earned $1.29 billion, or $1.42 per share. That's up from $754 million, or 79 cents per share, a year ago.
Removing certain items, earnings were 91 cents per share. Excluding publishing division Time Inc. — expected to be spun off in the second quarter — earnings were 97 cents per share.
Analysts surveyed by FactSet forecast earnings of 88 cents per share.
Time Warner's stock added 56 cents to $65.30 in premarket trading about 90 minutes before the market open.
Revenue for the New York company increased 9 per cent to $7.55 billion from $6.94 billion, driven by strong performances from Warner Bros., Turner and HBO. Taking out Time Inc., revenue was $6.8 billion.
Wall Street expected $6.63 billion in revenue.
At Time Inc., revenue edged up 1 per cent to $745 million on the acquisition of the Affluent Media Group, which was previously known as American Express Publishing Corp.
Time Warner Inc. updated its full-year forecast on Wednesday to account for the planned spinoff of Time Inc. It now foresees 2014 adjusted earnings climbing by a low teens percentage rate from 2013's $3.51 per share. The company previously said that it expected 2014 adjusted earnings per share to rise by the "low-double-digits" from their 2013 level when excluding Time Inc.Suggest a correction