Time Warner Reports $2.3 Billion in Third-Quarter Revenue

7:20 am on November 2, 2006 | Category: Business, Corporate, Internet, Telecom Services, Television

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The world’s largest media conglomerate, Time Warner, saw its profits almost triple in the third quarter, bolstered by significant growth in its cable TV business, as well as strong advertising revenue from AOL.

Time Warner, which also owns the CNN cable network and Warner Bros. movie studio, generated third-quarter net earnings of $2.3 billion, compared to $853 million for the same three-month period in 2005.

The company’s revenue was up 7% over last year, to $10.9 billion, and its stock has performed well over the past few months mostly due to a rally in the cable sector.

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