Meanwhile, Time Warner Reports 8% Revenue Surge

The company brought in $562 in profit on $6.4 billion in revenue, 8 percent more than the year prior and the biggest gain since 2008.

The company’s publishing division, Time Inc., which went through quite a few layoffs late last year, turned a $153 million profit, up about 30 percent from the year prior.

The company says that advertising revs at Time Inc’s magazines rose four percent and increased its share of overall domestic magazine advertising to 21 percent over the first six months of the year.