Time Warner
The media mammoth climbed back into profit in the fourth quarter with net earnings of $638 million (€512m; £350m) -- a marked improvement on the $44.9 billion loss posted in Q4 2002. Operating income rose 2% to $2.4bn, while revenues increased 6.3% to $10.9bn.
    The company's cable, publishing and movie units all posted revenue rises. However, the Q4 figures did nothing to allay concerns about the performance of America Online. The troubled internet unit lost 400,000 subscribers and saw sales drop 7%.
    That said, for the full year Time Warner managed its first annual profit since the merger with AOL in 2001.

Procter & Gamble
The consumer goods colossus saw earnings for its fiscal second quarter (ended December 31) soar on the back of its purchase of Wella. Net earnings rose 22% year-on-year to $1.82bn on a 20% rise in sales to $13.2bn. Around half of this revenue rise was attributed to acquisitions.

Data sourced from: multiple sources; additional content by WARC staff