Time Warner Profit Increases 14% on Rising Cable, Film Sales
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Time Warner Inc., owner of Warner Bros. film studios, said second-quarter profit rose 14 percent as revenue from its cable-television, movie and magazine businesses rose.
Net income rose to $638 million, or 59 cents a share, from $562 million, or 49 cents, a year earlier, the New York-based company said today in a statement. Excluding some items, profit was 60 cents a share. Analysts surveyed by Bloomberg estimated 56 cents on average.