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Time Warner Inc. (NYSE:TWX) made an advancement in the fourth quarter even with a decline in advertising revenue as the media company witnessed revenue increases in its cable channels such as HBO and its Warner Bros. movie studio, the one behind the "Harry Potter" franchise. The company said it brought in $627 million, or 53 cents per share, in the last three months of 2009. Revenue jumped up 2 percent to $7.32 billion.
Excluding one-time items, the company said it earned 55 cents per share. Analysts polled were only looking forward to 52 cents. The revenue was also greater than analysts' average prediction of $7.14 billion. Time Warner's networks division, which includes HBO, CNN and Turner cable networks, witnessed its revenue boost 4 percent to $3.1 billion.
Full-year earnings came to $2.47 billion, or $2.07 per share, as cost cutting and smaller accounting charges reversed a loss of $13.4 billion, or $11.23 per share. Revenue fell 3 percent to $25.8 Billion.The Company stated that it expects its earnings per share this year to grow on a percentage basis in the mid-teens from an adjusted figure of $1.83. That's roughly in line with the average forecast from analysts, which calls for a full-year profit of $2.12 per share. The company is also raising its dividend 13 percent to an annual rate of 85 cents per share and increasing its stock repurchase plan.
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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") including 2009 growth, revenue for the second quarter and year of 2009 and gross margin for the second quarter and year of 2009. Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the impact of intense competition, the continuation or worsening of current economic conditions and the condition of the domestic and global credit and capital markets.
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