Yesterday, Time Warner thanked investors for their support and told them it didn't need to merge with Rupert Murdoch's 21st Century Fox because it was "well positioned for success." Today it reported second-quarter earnings that suggest that view may indeed be justified. The company, which owns cable networks TNT, TBS, CNN, and HBO, as well as the Warner Bros. film studio, reported a 3% gain in revenue to $6.8 billion. Net income totaled $850 million, and earnings per share beat analyst expectations, coming in at 98 cents per share versus 84 cents per share in the same quarter last year. The earnings report follows Murdoch's surprise decision yesterday to withdraw his company's unsolicited bid to acquire Time Warner for $85 per share, a proposal originally valued at around $80 billion. Murdoch cited Time Warner's unwillingness to engage in negotiations in part for his walking away.