Time Warner Reports Record Growth
Time Warner Inc. today reported $7.1 billion in revenue for the third quarter of 2011, up 11 percent—the highest growth rate in four years, the company said.
Operating income was $1.6 billion, up from $1.3 a year prior.
Driving the growth: Not exactly magazines: Time Inc., the company’s publishing arm, saw revenues fall one percent to $899 million and income fall 12 percent to $124 million. Higher paper costs combined with lower advertising revenues caused the decline.
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