Time Warner 3Q profits beat expectations, AOL weak
By The Associated Press Friday, November 07, 2008NEW YORK - Time Warner Inc. reported third-quarter profits Wednesday that beat Wall Street expectations, even as its AOL online unit continued to weigh down the company with a 6 percent decline in advertising revenue.
The media conglomerate saw growth in its cable-access and cable-network businesses.
Overall, Time Warner reported net income of $1.07 billion, or 30 cents a share, roughly in line with the $1.09 billion, or 29 cents per share, it earned in the year-ago period.
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