NEW YORK » Media conglomerate Time Warner Inc. said Wednesday that its second-quarter profit grew 14 percent, thanks to higher revenue from its TV channel business and movies such as "The Hangover Part II."

The owner of HBO, Warner Bros. and People magazine reported net income of $638 million, or 59 cents per share, in the April-June period. That’s up from $562 million, or 49 cents per share, a year earlier.

Adjusted earnings were 60 cents per share in the latest quarter, above the 55 cents per share that analysts polled by FactSet had expected.

Revenue grew 10 percent to $7.03 billion from $6.38 billion. Analysts expected lower revenue of $6.81 billion.

Time Warner said growth in video game sales boosted revenue in its filmed entertainment business, Warner Bros. Home DVD sales of last summer’s "Harry Potter" flick also helped this segment boost revenue by 13 percent to $2.8 billion.

"The Hangover Part II" comedy has grossed more than $563 million worldwide from its May 27 opening through July 31, the company said.

The company said "Harry Potter and the Deathly Hallows: Part 2" broke industry records on its opening weekend and grossed more than $1 billion worldwide from its July 13 release through July 31. Its results were not included in the second quarter, which ended June 30.

Time Warner also said it now expects 2011 adjusted earnings per share to be up "at least" in the low teens. Last quarter, it forecast an increase "in the low teens." Analysts are expecting $2.76 per share, a nearly 15 percent jump from 2010.

Shares of Time Warner edged up 2 cents to $34.02 in premarket trading.