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Time Warner 4Q net income falls 12 pct
http://www.adn.com/2014/02/05/3307635/time-warner-4q-net-income-falls.htmlTime Warner 4Q net income falls 12 pct
The Associated Press
February 5, 2014 Updated 2 minutes ago
NEW YORK — Time Warner said Wednesday that its fourth-quarter net income dropped 12 percent, as investments in programing and other costs offset revenue growth.
But New York-based media and entertainment company's adjusted profit beat Wall Street predictions. Its shares edged higher in premarket trading.
Time Warner also said that it still expects to complete the spinoff of its Time Inc. publishing division into a separate company in the second quarter.
Time Warner earned $983 million, or $1.06 per share, compared with $1.11 billion, or $1.15 per share, in the same quarter the year before.
