Feeds

Time Warner sprints ahead, AOL crawls

Ups and downs

  • alert
  • submit to reddit

Security for virtualized datacentres

Time Warner's cable, film and TV network businesses contributed to an $900m increase in quarterly revenues, while turnover at AOL was flat. In its first quarter to the end of March, the media conglomerate had revenues of $10.1bn, up from $9.2bn for the same quarter of 2003. The company had net income of $961m, or $0.20 per share, more than double the $396m it earned in the same quarter last year, when it had EPS of $0.09. This quarter's earnings blew past analysts' per share expectation of $0.09.

AOL's revenues were flat for the quarter, in contrast to the cable and film businesses, where revenues rose 11 per cent and 25 per cent respectively. The TV network business was up five per cent and revenues for its publishing business were down six per cent. AOL accounts for 22 per cent of the conglomerate's revenues, whereas cable accounts for 20 per cent, film 29 per cent and TV networks 22 per cent.

"We posted very attractive top-line results, led by spectacular quarters from our film studios and television networks," said Dick Parsons, chairman and chief executive. "These results put us comfortably on track to meet all of our 2004 financial targets."

AOL subscription revenues were up one per cent, $21m, driven by its US broadband business, a growing European subscription business and the strength of the euro against the dollar. However, these gains were offset by declines in US narrowband membership and an increase in value-added taxes at AOL Europe. AOL's advertising revenues fell five per cent and other revenues also fell 21 per cent.

AOL has 24 million members in the US, down 237,000 for the quarter. AOL Europe has 6.4 million members, up 38,000 for the quarter. The ISP forecasts revenue growth for the full year of "greater than 10 per cent".

© ENN

Related stories

AOL UK blows £20m on ad campaign
AOL raffles spammer's seized Porsche
TW, MS deny AOL buyout dialogue
AOL future uncertain - report
AOL warns of falling revs as punters flee service
AOL calls for UK broadband competition
AOL axes 450 jobs

Security for virtualized datacentres

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.