Earnings: Time Warner Profits Up 21 Percent For 4Q05; AOL Subs Continue To Leave

A quick look at Time Warner’s earnings; we’ll flesh it out a little later. Profits for 4Q05 were up 21 percent over the previous year with adjusted earnings of 24 cents per share compared to analyst estimates of 22 cents. An oblique reference to those who want to disaggregate TW, led by dissident financier Carl Icahn, from Chairman and CEO Dick Parson in the press release: “Our scale and closely related, industry-leading businesses give Time Warner significant competitive advantages and strategic flexibility in today’s rapidly changing environment.”

Some AOL results: — Revenue for 2005 was down 5 percent to $8.3 billion — with a 33-percent increase in ad revenues offsetting, in part, a 10-percent decrease in AOL subscriber income. “The decline in Subscription revenues was due to a decrease in domestic AOL brand members as well as unfavorable changes in the price plan mix of AOL brand subscribers.”

– For 4Q05, revenue was down 8 percent to $2 billion.

– As of Dec. 31, AOL had 19.5 million domestic subs, down 625,000 from 3Q05 and 287,000 from 4Q04.

– Paid search was up 35 percent.

– According to comScore Media Metrix, AOL had 109 million average monthly domestic unique visitors and 54 billion page views,

Time Warner Cable: Roughly 27 percent of digital cable subs now get DVR service via TWC; 219,000 subs signed up for DVR in 4Q05; 621,000 over the year. TWC now has 1.1 million digital phone subs.
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