Tags: US | Earns | Time | Warner

Time Warner Profit Rises on Improved Ad Revenue

Wednesday, 05 May 2010 07:14 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Time Warner Inc. said Wednesday that its first-quarter profit rose 10 percent, helped by better advertising revenue and strong home video sales.

The advertising gains are encouraging, as the media and entertainment conglomerate reported a decline in that figure during the fourth quarter.

Time Warner earned $725 million, or 62 cents per share, for the period ended March 31. That's better than its profit of $660 million, or 55 cents, a year ago.

Removing one-time items, profit was 61 cents per share.

Revenue climbed 5 percent to $6.32 billion from $6 billion, the biggest increase in almost two years.

"The advertising recovery benefited both Turner and Time Inc., while the continuing popularity of The Blind Side and Sherlock Holmes helped lift Warner Bros.' home video sales," Chairman and CEO Jeff Bewkes said in a statement.

The performance surpassed the expectations of analysts polled by Thomson Reuters, who forecast a smaller profit of 48 cents per share on revenue of $6.25 billion. These estimates generally take out one-time items.

At the network division, which houses HBO and Turner Broadcasting, revenue rose 9 percent on a 7 percent increase in subscription revenue, a 9 percent rise in ad revenue and a 22 percent increase in content revenue.

The filmed entertainment unit, which contains Warner Brothers, reported a 2 percent revenue increase mainly on its improved home video sales. Revenue for the publishing division, which Time Inc. is a part of, dipped 1 percent.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved