1 August 2012 3:54 AM, PDT | The Hollywood Reporter | See recent The Hollywood Reporter news »

Time Warner on Wednesday reported lower second-quarter earnings, but reiterated its full-year financial forecast. The entertainment conglomerate, led by CEO Jeffrey Bewkes, posted a profit of $429 million, compared with $637 million in the year-ago period. Adjusted operating profit declined 5 percent to $1.2 billion. Revenue declined 4 percent to $6.7 billion. Financial improvements in the TV networks unit were not enough to offset declines in the film and TV entertainment and publishing divisions. Operating income in the latest period included $147 million in charges related to the shutdown of Turner’s general entertainment network, Imagine,

read more

»


- Georg Szalai

Report a problem



Similar News Items

Time Warner [us]
Jeffrey Bewkes


IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.

See our NewsDesk partners