Time Warner 1Q earnings climb

Earnings at Time Warner Inc. grew 24% in the first three months of the year despite a slight drop in revenue, as the company benefited from strength in its television networks.Time Warner Inc. said Wednesday that first-quarter net income was $720 million, or 75 cents per share, compared with $583 million, or 59 cents, a year earlier. Adjusted for one-time items, the company earned 82 cents per share, beating the 75 cents expected by analysts surveyed by FactSet.But revenue of $6.94 billion was short of the $7.16 billion expected by analysts. In the same period last year, revenue was $6.98 billion.Its shares fell 95 cents, or 1.6%, to $58.83 in morning trading Wednesday.Time Warner said revenue growth at its television channels such as TBS and HBO was offset by declines at the studio production and magazine businesses.Revenue at the television networks grew 3% to $3.7 billion because of a 5% increase in subscription revenue, such as fees that cable and satellite TV companies pay to carry Turner channels.Advertising revenue at the networks fell 1% despite higher ad rates, in part because of weakness at CNN and the shutdown of channels in India and Turkey.The company said the Warner Bros. studio was successful with television productions, including hits such as Revolution on NBC and The Following on Fox. But revenue at the studio fell 4% to $2.7 billion because its movies didn't do as well in theaters and it had fewer TV shows available for licensing abroad.Another weakness... Continue reading at 'Crains New York'

[ Crains New York | 2013-05-02 00:00:00 UTC ]
News tagged with: #including hits #magazine business #$737 million #2% increase #sports illustrated #conference call

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Mantel on Sunday Times short story longlist

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[ The Bookseller | 2011-02-21 00:00:00 UTC ]
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Indies could earn as much as 30% from books sold via Gardners' Hive

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[ The Bookseller | 2011-02-18 00:00:00 UTC ]
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TIME For a Makeover

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[ Folio Magazine | 2011-02-18 00:00:00 UTC ]
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The Sun and Times to include WBD vouchers

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[ The Bookseller | 2011-02-16 00:00:00 UTC ]
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Time Inc. Launching 'All Access' Digital Subscription Plan

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[ Folio Magazine | 2011-02-11 00:00:00 UTC ]
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Man Booker to accept digital submissions for first time

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[ The Bookseller | 2011-01-28 00:00:00 UTC ]
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Small Bookstores Struggle for Niche in Shifting Times

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[ The New York Times | 2011-01-24 00:00:00 UTC ]
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Time to Change Co-op?

After several stark years in which stores like Cody's in San Francisco and Davis-Kidd Booksellers in Nashville closed and the nation's second largest chain is teetering more than ever, publishers and booksellers are looking for new ways to work together. Continue reading at Publishers Weekly

[ Publishers Weekly | 2011-01-17 00:00:00 UTC ]
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