Time Warner posts a fourth quarter loss

Time Warner posts a fourth quarter loss

Time Warner has come out with their latest revenue report and the company has posted a loss of $16.03 billion, or $4.47 per share in the quarter ending in December last year.

This is a terrible performance compared to a profit of $1.03 billion, or 28 cents per share, a year ago.

The company suffered due to $24.2 billion write down for its cable, publishing and AOL assets.

Time Warner Chief Financial Officer John Martin said in a statement: “We’re considering that the tough advertising environment continues. While it doesn’t assume any considerable improvement, it also doesn’t assume that things are going to get much worse.”

The revenues for the company were down a bit to $12.31 billion from $12.64 billion.