You can read a summary of the Time Warner Inc. (NYSE: TWX) earning results here; live blogging below is for the data not discussed in the press release and the Q&A session from Wall Street analysts.
Total revenues were $11.676 billion and EPS was $0.24 on a normalized basis, and free cash flow was $3.971 billion for the quarter. Time Warner listed its net debt at $35.3 billion, and it spent roughly $2.2 billion of its $5 billion for share buybacks since August 2007. The company also reaffirmed EPS targets at $1.07 with OIBDA growth in mid to high-teens from a base of $11 billion.
Oddly enough, AOL showed $635 million in subscription revenues. That is down 56% from Q3 2006, but that is still a huge number considering the access business has been sold off. So some people are still insisting on keeping their dial-up accounts even though they can get most services free besides the web access. Advertising revenues were up 13% to $540 million. Domestic ad revenues on an ex-TAC (traffic acquisition costs) basis were $330 million; unique monthly visitors were 113 million with an average ex-TAC revenue per user of $2.92.
Chairman Dick Parsons began the call, Wayne Pace is making comments after, then Jeff Bewkes will take over.
Total revenues were $11.676 billion and EPS was $0.24 on a normalized basis, and free cash flow was $3.971 billion for the quarter. Time Warner listed its net debt at $35.3 billion, and it spent roughly $2.2 billion of its $5 billion for share buybacks since August 2007. The company also reaffirmed EPS targets at $1.07 with OIBDA growth in mid to high-teens from a base of $11 billion.
Oddly enough, AOL showed $635 million in subscription revenues. That is down 56% from Q3 2006, but that is still a huge number considering the access business has been sold off. So some people are still insisting on keeping their dial-up accounts even though they can get most services free besides the web access. Advertising revenues were up 13% to $540 million. Domestic ad revenues on an ex-TAC (traffic acquisition costs) basis were $330 million; unique monthly visitors were 113 million with an average ex-TAC revenue per user of $2.92.
Chairman Dick Parsons began the call, Wayne Pace is making comments after, then Jeff Bewkes will take over.
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