Friday, May 06, 2005
Time Warner Q1 profit goes flat, despite modest growth | InfoWorld | News | 2005-05-04 | By Sumner Lemon, IDG News Service: "AOL division drags down the group's revenue with a drop in domestic subscribers
Despite a modest increase in overall revenue, Time Warner on Wednesday said its first-quarter profits were flat compared to the same period last year.
Time Warner's first-quarter revenue was $10.5 billion, up 3 percent from the same period last year when the company reported revenue of $10.2 billion.
However, that modest increase in revenue didn't translate into higher profits for the company. Time Warner reported its net income for the period was $963 million, a gain of less than 1 percent over the year-ago period.
Time Warner's AOL Internet division had a tough quarter, with a drop in the number of domestic subscribers dragging the group's revenue down by 3 percent to $2.1 billion..."
Despite a modest increase in overall revenue, Time Warner on Wednesday said its first-quarter profits were flat compared to the same period last year.
Time Warner's first-quarter revenue was $10.5 billion, up 3 percent from the same period last year when the company reported revenue of $10.2 billion.
However, that modest increase in revenue didn't translate into higher profits for the company. Time Warner reported its net income for the period was $963 million, a gain of less than 1 percent over the year-ago period.
Time Warner's AOL Internet division had a tough quarter, with a drop in the number of domestic subscribers dragging the group's revenue down by 3 percent to $2.1 billion..."
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