NEW YORK May 4 Time Warner Inc (TWX.N) posted
a decline in first quarter profit, but revenue rose a
better-than-expected 6 percent alongside a surge in advertising
sales at its cable TV networks.
Time Warner, which owns cable networks such as CNN and TBS,
as well as magazines and a movie studio, reported net income
of $651 million, or 59 cents per diluted common share. This
compares to net income in the prior year quarter of $725
million, or 62 cents per diluted common share.
Revenue rose 6 percent to $6.7 billion, the media company
said on Wednesday.
(Reporting by Paul Thomasch; Editing by Derek Caney)