Blog Post

Earnings: Time Warner Meets Expectations; Time Inc., AOL Both Hit Hard

imageTime Warner (NYSE: TWX) reported results in line with expectations this morning: revenue declined 7 percent to $6.9 billion, operating income declined 9 percent to $1.2 billion, and earnings per share from continuing operations was $0.46. As expected, advertising-reliant Time Inc. and AOL drove much of the declines, while cable-oriented Turner and HBO buoying the results with single-digit revenue gains. Here are the highlights:

AOL: Revenue declined 23 percent during the quarter