Time Warner, which is in the process of being bought by AT&T, today reported a higher than expected 11.5% in quarterly revenue and said it remained on track to close the deal later this year. 

AT&T's $85.4 billion bid for Time Warner was opposed by US President Donald Trump during his election campaign. 

Time Warner said its fourth-quarter revenue rose to $7.89 billion from $7.08 billion, helped by the success of the "Harry Potter" spinoff "Fantastic Beasts and Where To Find Them." 

Analysts on average had expected $7.72 billion, according to Thomson Reuters. 

Revenue from Warner Bros, the company's biggest unit by revenue, rose 17% to $3.87 billion. 

"Fantastic Beasts" grossed more than $800m globally as of February 5, according to tracking firm Box Office Mojo. 

Revenue from HBO, home to popular shows such as "Game of Thrones" and the new breakout series "WestWorld", rose 5.6% to $1.49 billion. 

Time Warner, which is losing its audience to streaming services such as Netflix and Amazon Prime, took a 10% stake in video streaming site Hulu in August as part of its efforts to keep users hooked. 

The company's net income from continuing operations fell to $317m, or 40 cents per share, in the quarter ended December 31 from $857m, or $1.06 per share, a year earlier. 

Excluding some items, the company earned $1.25 per share, compared with the average estimate of $1.19 per share.