socialmedian: Time Warner ups 2009 view as profit drops 38%

User-submitted headlines for this story

Clips

Time Warner ups 2009 view as profit drops 38%

Source: Wall Street Journal

Nov 04, 2009

Summary

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.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.