By
Katrina Chan
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More Articles
August 1, 2007
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Media giant Time Warner (NYSE: TWX ) reported Q2 earnings on Aug. 1.
- For the quarter, Time Warner's cable division -- publicly traded as Time Warner Cable (NYSE: TWC ) -- was the star with a 59.2% leap in sales.
- If cable was the winner, then Time Warner's AOL counterpart was the clear loser. AOL's revenue dropped by 38.1% thanks to a decline in subscribers. For some time now, AOL has been trying to change its image from subscriptions to advertising.
- Looking forward, Time Warner stands by its 2007 guidance and wants to repurchase $5 billion in stock.
- During the quarter, Time Warner finished swapping assets with Liberty Media (Nasdaq: LINTA ) . Time Warner received 68.5 million shares in exchange for $960 million in cash and, among other things, the Atlanta Braves.
(Figures in millions, except per-share and CAPS data)
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Q2 2007
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Q2 2006
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Change
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Revenue
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$10,980
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$10,361
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6%
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Net Income
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$1,067
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$1,014
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5.2%
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EPS
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$0.28
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$0.24
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16.7%
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CAPS Score
(out of 5)
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Outperform
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Underperform
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CAPS
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***
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643
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99
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Foolish research associate Katrina Chan does not own shares in any of the companies mentioned. The Motley Fool has a disclosure policy worth reading about.
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