LONDON (MarketWatch) -- New York media giant Time Warner said its third-quarter profit fell 38% to $661 million, or 55 cents a share, with revenue slipping 6% to $7.14 billion on declines from AOL, publishing and filmed entertainment segments. Its adjusted EPS was 61 cents a share, compared to FactSet-compiled analyst estimates for earnings of 53 cents a share. It still expects to spin off AOL by the end of the year. The company expects adjusted earnings of at least $2.05 a share for the year, up from $1.98 in 2008 and a previous prediction of "around flat" results, with up to $100 million in restructuring charges in publishing that it anticipates for the fourth quarter.
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