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Last Updated: Wednesday, 1 November 2006, 12:19 GMT
AOL business boosts Time Warner
AOL logo and Carphone Warehouse leaflet
AOL sold its UK operation to Carphone Warehouse last month
Time Warner has seen its profits almost triple, boosted by strong advertising revenues at its AOL internet division.

The world's largest media group saw its third quarter net profit jump to $2.3bn (1.2bn) from $853m for the same three months to 30 September last year.

Its revenues were up 7% to $10.9bn, again compared with a year earlier, strengthened by its acquisition of cable business Adelphia Communications.

Last month, Time Warner sold AOL's UK unit to Carphone Warehouse for 370m.

Restructuring work

The company, which also owns the Warner Bros movie studio and the CNN cable network, said advertising revenues at AOL were up 46%.

Time Warner restructured AOL back in the summer to make it more profitable, eliminating 5,000 jobs, and then spinning off the UK arm in October.

It bought Adelphia at the start of the year, establishing itself as the second-largest US cable operator, with strongholds in New York and Los Angeles.

Time Warner's share price last month hit a four-year high.


SEE ALSO
Carphone Warehouse buying AOL UK
11 Oct 06 |  Business
Time Warner to restate accounts
18 Aug 06 |  Business
AOL to cut jobs in US and Europe
03 Aug 06 |  Business
America Online to rebrand as AOL
04 Apr 06 |  Business
Turner to quit Time Warner board
24 Feb 06 |  Business
Time Warner profit tops forecasts
02 Feb 06 |  Business

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