Time Warner Q4 Earnings
Time Warner (NYSE: TWX), released earnings for the 4th quarter showing growth in its cable business lines, improved ad sales with AOL but declines in print businesses including marquee Time magazine.
4th quarter net income was up 34% to $1.75b. The results showed gains from the sale of Internet access business in Europe and tax benefits. The company also reported a one time $615m charge for potential legal liabilities associated with securities litigation.
Net margins were up 2.7% to 14.1% for the quarter. In the cable business operating profit was up 26% and revenue up 58%. In the film division sales were down 15% and profit down 39% based in part on lower the hoped 4th quarter home video sales.
S&P Credit Analysts rate Time Warners debt at BBB+. The debt load is up to $33.4b from $17.4 because of the acquisition of Adelphia.
More detailed press coverage on TWX finances can be found at:
