Time Warner, the world's largest media company, has reported a higher fourth-quarter profit on strong growth in high speed internet subscribers, digital phone customers and cable networks advertising sales.
Earnings rose to $1.4 billion, or 29 cents per share, from $1.13 billion, or 24 cents per share, a year earlier, beating analysts' forecasts of 21 cents. Revenue rose 7% to $11.9 billion at the company, which owns Warner Brothers film studio, AOL and CNN.
Time Warner shares, like much of the media sector, have suffered from looming competition from the internet, and decelerating DVD sales growth.
