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AOL Hurts Time Warner Earnings

Apr 29, 2009  •  Post A Comment

Time Warner reported lower first-quarter earnings because of big losses at AOL, but said profits were up at what it called its “Content Group.” Time Warner reported its earnings separately from Time Warner Cable, which has been spun off into a separate company. Profits fell at Time Warner Cable because of expenses due to the separation and programming costs that rose 8%. At Time Warner’s networks unit, which includes Turner Broadcasting and HBO, operating income before depreciation and amortization rose 11% to $1.1 billion because of increased revenue and lower news gathering costs. The company said ad revenues were down slightly at its domestic entertainment networks. Time Warner’s earnings release can be read here.
—Jon Lafayette

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