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Time Warner (NYSE: TWX) reported a 12% drop in its fourth-quarter profit.

Time Warner's quarterly profit fell to $983 million, or $1.06 per share, from a year-ago profit of $1.11 billion, or $1.15 per share. Excluding one-time items, its earnings climbed to $1.17 per share from $1.16 per share.

Its revenue climbed 4.9% to $8.57 billion. However, analysts were projecting earnings of $1.15 per share on revenue of $8.39 billion.

Time Warner shares closed at $62.40 yesterday.

Posted-In: profitEarnings News


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