Nov 4th, 2009 - Silicon Alley Insider
Time Warner (TWX) reported earnings this morning above the Street's expectations, and raised its guidance.
The strength of its cable networks buoyed weak performances by AOL and publishing.
Adjusted EPS came in at $0.61 versus the Street's expectation of $0.53. Net income was $661 million.
Revenue came in at $7.1 billion, which is down 6% from last year, but in line with expectations.
Network revenue rose 5% to $2.9 billion. Higher subscription rates at Turner and HBO offset the weakness in advertising.
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