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Time Warner on Wednesday said it swung to a fourth-quarter profit that exceeded Wall Street forecasts on better film and TV unit results.
The entertainment giant also raised its quarterly dividend 13.3 percent to 21.25 cents per share and said its board has expanded a stock buyback authority from $1 billion to $3 billion.
The conglomerate posted a profit of $627 million, compared with a loss of $16 billion in the year-ago period driven by big impairment charges.
Revenue rose 2 percent to $7.3
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