Time Warner Profits Rise, Slightly
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AP:
Quarterly profits rose 5 percent at Time Warner Inc., as the media conglomerate reported particular strength in its cable unit and exceeded Wall Street's earnings forecasts Wednesday. The company also is set to spend another $5 billion buying back shares.
From April through June, the parent company of AOL, CNN, HBO, Fortune and Sports Illustrated earned $1.07 billion, 28 cents per share, ahead of last year's profit of $1.01 billion and 24 cents per share. Revenue rose 6 percent to just under $11.0 billion.
First Posted: 03/28/08 03:43 AM ET Updated: 05/25/11 01:10 PM ET