Time Warner Posts Strong Gains
Multichannel News, July, 1998
NEW YORK -- Strong results from cable operations and cable networks helped Time Warner Inc. to a 17 percent rise in operating cash flow during the second quarter, while net income topped analysts' forecasts. Overall cash flow -- which Time Warner defines as earnings before amortization of intangible assets -- rose to $1.16 billion from $991 million in the same period a year ago, as revenue rose 10 percent, to $6.5 billion from $5.9 billion.
Among other news items, Time Warner chairman Gerald Levin said last week that the company continues to repurchase shares, including some last week at about $91 apiece. Time Warner's net income rose to $101 million, or 4 cents per common share after dividend requirements, from $30 million, or a per-share loss of 9...
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