Media giant Time Warner
- 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)
|
Q2 2007 |
Q2 2006 |
Change |
|
|---|---|---|---|
|
Revenue |
$10,980 |
$10,361 |
6% |
|
Net Income |
$1,067 |
$1,014 |
5.2% |
|
EPS |
$0.28 |
$0.24 |
16.7% |
|
CAPS Score |
Outperform |
Underperform |
|
|---|---|---|---|
|
*** |
643 |
99 |
Dig deeper with this Foolishness:
- Time Warner's Conflicted Quarter
- Can Cable Still Reward Shareholders?
- The Motley Fool's Time Warner Discussion Board
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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.
