Time Warner operating income slides 10% amid weakness from AOL (TWX)

Wed. November 04, 2009; Posted: 07:10 AM

Nov 04, 2009 (SmarTrend(R) News Watch via COMTEX) -- TWX | Quote | Chart | News | PowerRating -- 11/4/2009-Time Warner (NYSE:TWX) reported Q3 EPS of 61 cents, topping consensus estimates of 53 cents.

Revenues in the quarter fell 5.9% year-over-year to $7.14 billion, ahead of consensus estimates of $7.08 billion.

Chairman and Chief Executive Officer Jeff Bewkes said: "We still expect to spin off AOL by the end of the year, and weaEUR(TM)re making great progress on our other longer-term strategic priorities.

IaEUR(TM)m confident that the new content-focused Time Warner will be well positioned to deliver steady and attractive stockholder returns in 2010 and beyond."

"In anticipation of the CompanyaEUR(TM)s separation of AOL, which is expected to be completed in December 2009, Time Warner is also providing a full-year outlook for its Content Group (which consists of the Networks, Filmed Entertainment, Publishing and Corporate segments). The Company expects 2009 full-year Content Group Adjusted EPS to be at least $1.75, compared to Content Group Adjusted EPS of $1.42 in 2008. This outlook includes the expected restructuring charges in the Publishing segment mentioned above."

Analysts, on average, were projecting full-year 2009 EPS of $2.03 on revenues of $28.07 billion. However, these estimates and the above guidance may not be comparable.

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Time Warner Inc (TWX) click here. Time Warner Inc (TWX) has Short Term PowerRatings of 5. Details on Time Warner Inc (TWX) Short Term PowerRatings is available at This Link.

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