Financial Roundup

06 May 2005

Global (fiscal Q3)

  • News Corporation
       Rupert Murdoch's media titan reports a fall of 7.8% in fiscal third-quarter net income, brought about by a loss on the restructuring of a sports joint venture and weaker results from the company's television busineses.
       The strongest growth came from the company's cable networks and film businesses.
       NewsCorp's net income was $400 million (€309m; £210m) in the quarter ended March 31, compared with $434m a year earlier. Revenue rose 17% to $6.04 billion.
       The TV unit - which includes the Fox broadcast-TV operations as well as its Star TV business in Asia - suffered a 15% decline in operating income to $221m.
       Filmed entertainment boosted operating income 15% to $251m, helped by DVD revenue; while the newspapers arm hiked operating income 6% to $186m.

    Global (calendar Q1)
  • Time Warner
       The media giant reported strong performances from its operating divisions in the first quarter, but its net income was essentially flat at $963 million (€744m; £506m), compared with $961 million, in the year-earlier quarter.
       Revenue grew 3% to $10.5 billion, driven by growth at Time Warner Cable, in part due to higher prices as well as strong sales of high-speed internet and digital phone services.
       The Time publishing division's advertising revenue grew 8% thanks to strength at magazines such as People, InStyle and Real Simple.
       Internet division America Online's operating income rose 17%, attributable to reduced expenses and a 45% increase in advertising revenue.

    Data sourced from multiple origins; additional content by WARC staff