Time Warner's net income up 44 percent

NEW YORK Time Warner (TWC) says its third-quarter net income rose 44 percent and is backing its outlook for the full year.

The media and entertainment company says it got a boost from strong results at its TV networks such as TNT, TBS and CNN. Its shares rose 2.4 percent to $69.85 in premarket trading.

The company earned $1.18 billion, or $1.26 per share, up from $822 million, or 84 cents per share, in the same quarter of 2012.

Excluding one-time charges, its adjusted profit from continuing operations was $1.01 per share. Revenue was flat at $6.86 billion.

Analysts polled by FactSet expected earnings of 89 cents per share on $6.94 billion in revenue.

Time Warner says it still expects its full-year 2013 earnings per share to rise by a "mid-teens" percentage.