Time Warner Boosts 2Q Profit on Rising Ad Revs, Raises Outlook
Media behemoth Time Warner, parent of magazine giant Time Inc. and many TV and film ventures, today reported second-quarter net income of $562 million, up 7.3% from the year-ago quarter.
Overall revenue climbed 8% year over year to $6.4 billion, thanks to improvements in the company’s TV and film businesses. Ad revenue jumped 11%, fueled by increases of 14% at the company’s Turner business and 4% at Time Inc.
“Time Inc. widened its lead in overall domestic print advertising share through the first six months of 2010,” said CEO Jeff Bewkes in a statement.
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