Time Warner reports improved profits

Time Warner reports improved profits

Time Warner Inc. has released their latest quarterly report and the company has posted 34% improvement in their profits.

Time Warner gained from sales of their loss making operations in European markets. They also gained from increase in digital cable and phone customers.

The company however came out with an overly conservative outlook which resulted in their shares taking a hit at the market.

Time Warner reported earnings of 22 cents per share which matched the market expectations. This was excluding the $769 million gain on the sale of AOL businesses in the United Kingdom and France.

Oppenheimer & Co. analyst Thomas Eagan spoke about Time Warner: “The big question for cash flow guidance is on their ability to bring up the margins on cable.”