Time Warner Inc. (NYSE: TWX), the New York City-based media and entertainment company, reported its financial results for the third quarter, posting a big increase in net income. For the quarter ended September 30, 2013, the company reported a profit of $1.18 billion, or $1.26 per share, compared to $822 million, or $0.84 per share reported for the same period in the previous year. Excluding one-time items, the company reported a profit of $1.01 per share. Revenue for the quarter was $6.86 billion. Analysts were expecting TWX to report revenue of $6.94 billion for the quarter. TWX shares struck a 52-week high of $70.77 earlier today. At last check, the stock was up 0.51% to $68.58 on above average volume of 5.92 million.