Warner Bros. CEO Jeff Bewkes, announced today that Warner Bros. has exceeded expectations for the third quarter this year, with Suicide Squad being one of them.
“In film, Warner Bros. had a strong quarter led by Suicide Squad and has the number 1 release of the fall in Sully, while anticipation is off the charts for J.K. Rowling’s Fantastic Beasts and Where to Find Them, which hits the big screen on Nov. 18.”
The success of Suicide Squad exceeded expectations and did a lot better than originally expected.
The entertainment conglomerate, led by chairman and CEO Jeff Bewkes, posted earnings of $1.87 per share, or $1.83 per share in earnings from continuing operations. Wall Street had on average forecast earnings of $1.37 per share, compared with $1.25 in the year-ago period. Even when excluding a 28 cents per share benefit from an IRS-approved tax accounting change the results beat estimates.
DC Television Programming was also mentioned to have been a source of their success bringing in an estimated 1 billion dollars a year to the company.
Bewkes also lauded the strong performance of the DC TV series, saying they generate more than $1 billion in revenue a year for Time Warner. He said the company has an unprecedented 10 DC TV series on the air this season.
Jeff Bewkes also mentioned that the comic book event Rebirth, has also helped greatly to the success of the company.