Wednesday, July 28, 2004
Time Warner broadcasts improved results | CNET News.com:
"By Jim Hu and Matt Hines - Staff Writer, CNET News.com
update: Time Warner reported better-than-expected second quarter earnings on Wednesday as its cable business added broadband customers and AOL contributed higher ad revenue...
...Time Warner's numbers benefited from an unexpected surge in advertising revenue at its America Online division, which posted revenue of $2.1 billion and a 13 percent higher operating profit, compared with the same period last year.
Operating income before depreciation and amortization (OIBITDA) for the quarter reached $2.6 billion, a gain of 30 percent from last year. Excluding asset gains and losses, adjusted OIBITDA rose 17 percent.
While Time Warner as a whole showed strength in its core businesses--film, publishing, television and cable--the surprising star for this quarter was its long-battered AOL division.
AOL climbing out of its hole
For the first time since the third quarter of 2001, AOL reported growth in its advertising business. The results mark the first bit of good news since the division's fortunes started nose-diving in 2001 and..."
"By Jim Hu and Matt Hines - Staff Writer, CNET News.com
update: Time Warner reported better-than-expected second quarter earnings on Wednesday as its cable business added broadband customers and AOL contributed higher ad revenue...
...Time Warner's numbers benefited from an unexpected surge in advertising revenue at its America Online division, which posted revenue of $2.1 billion and a 13 percent higher operating profit, compared with the same period last year.
Operating income before depreciation and amortization (OIBITDA) for the quarter reached $2.6 billion, a gain of 30 percent from last year. Excluding asset gains and losses, adjusted OIBITDA rose 17 percent.
While Time Warner as a whole showed strength in its core businesses--film, publishing, television and cable--the surprising star for this quarter was its long-battered AOL division.
AOL climbing out of its hole
For the first time since the third quarter of 2001, AOL reported growth in its advertising business. The results mark the first bit of good news since the division's fortunes started nose-diving in 2001 and..."
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