Time Warner reports improved profits

Time Warner reports improved profits

Time Warner Inc. has reported an improvement in their profit figures. The company seems to have gained from their cable and AOL Internet divisions.

AOL is showing improvement in its online advertising revenues and the cable division is gaining new customers.

Time Warner reported that its third-quarter net profit nearly tripled to $2.3 billion, or 57 cents per share, from $853 million, or 18 cents per share, a year ago.

Oppenheimer & Co. analyst Tom Eagan spoke on these results: “The results were mixed. They were more positive than negative. The cable numbers were a little complicated as they did not provide easily comparable pro forma metrics.”

Christopher Marangi of Gabelli & Co. added: “AOL was a star for a change. It appears the new strategy has taken hold.”