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 NEW YORK (AP) - Media conglomerate Time Warner Inc. said Wednesday its first-quarter profit slipped 18 percent, but beat Wall Street expectations as growth in its cable segment helped lift revenue by 9 percent.
Net income slipped to $1.20 billion, or 31 cents per share, from $1.46 billion, or 32 cents per share, a year ago.
Excluding one-time gains, profit from continuing operations totaled 22 cents per share in the latest period, ahead of the 20 cents per share that analysts polled by Thomson Financial had been expecting and also above the 20 cents per share that the company earned on a comparable basis in the same period a year ago.
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