{"id":549739,"date":"2006-08-03T07:24:51","date_gmt":"2006-08-03T07:24:51","guid":{"rendered":"http:\/\/localhost:8888\/wordpress\/technology\/549739-time-warner-returns.html"},"modified":"2006-08-03T07:24:51","modified_gmt":"2006-08-03T07:24:51","slug":"time-warner-returns","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/technology\/549739-time-warner-returns.html","title":{"rendered":"Time Warner returns"},"content":{"rendered":"

The cable TV, film studio and publishing behemoth announced net profits in the three months to June 30 of one billion dollars, compared with a loss of 409 million dollars a year ago. <\/font><\/p>\n

That translated into earnings per share of 20 cents, beating Wall Street’s forecasts by one penny, according to a consensus survey by First Call. <\/font><\/p>\n

"We’re pleased with this quarter’s results, which put us firmly on track to achieve our full-year financial objectives," said Time Warner chief executive Dick Parsons. <\/font><\/p>\n

The company said profits swelled as more consumers signed up to its digital telephone and high-speed data services. It also announced Wednesday plans to offer its AOL software and e-mail for free to broadband Internet subscribers. <\/font><\/p>\n

Most of the profits came from new subscribers gobbling up video cable and data services after the company, along with Comcast Corp., acquired Adelphia Communications Corp. <\/font><\/p>\n

Overall revenues rose 1.2% to 10.71 billion dollars in the second quarter, but analysts had expected revenues to hit 10.99 billion. <\/font><\/p>\n

Time Warner signed up 230,000 new residential high-speed data subscribers during the quarter, marking is sixth straight quarter in which net subscriber additions surpassed 200,000. <\/font><\/p>\n

It now supplies a total 5.4 million such subscribers in the United States. <\/font><\/p>\n

The new subscribers helped boost overall revenues of Time Warner Cable by 15% to 2.7 billion dollars. <\/font><\/p>\n

The company moved to offer its AOL services for free against fierce competition from rivals Yahoo and Google, and as AOL’s subscription revenues from fixed-line Internet access plummeted 11 percent. <\/font><\/p>\n

Earnings from the new Superman movie also appear to be meeting targets for Time Warner. <\/font><\/p>\n

The Warner Brothers revival, "Superman Returns," has raked in worldwide box office receipts of 320 million dollars since its late June release. <\/font><\/p>\n

Overall, however, the studio division’s revenues slumped 10 percent as its home video earnings from "Seinfield" and "Ocean’s Twelve" a year ago dried up. <\/font><\/p>\n

INet-Bridge<\/font><\/i><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Time Warner, the world’s largest media and entertainment group, has notched up better-than-expected profits during the second quarter as it rebounded back from a loss last year. <\/p>\n","protected":false},"author":23,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[17],"tags":[],"class_list":["post-549739","post","type-post","status-publish","format-standard","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/549739"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=549739"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/549739\/revisions"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=549739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=549739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=549739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}