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Market Update : 
Time Warner Beats Expectations
Author: Elena Todorova
123jump.com
Last Update: 11:14 AM EDT August 01 2007

Time Warner reported a 5% profit rise in Q2, due to a particular strength in its cable unit and 6% revenue increase. The conglomerate earned $1.07 billion, 28 cents per share, tp from $1.01 billion and 24 cents per share a year ago. Despite the positive results, Time Warner shares fell 4%. Owens Corning, building products maker, reported 88% earnings jump in Q2, due to weak housing market. Kraft Foods said Q2 profit rose 4%.

 

 

 
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