Time Warner Q4 net income falls

February 6, 2014 

Time Warner said Wednesday that its fourth-quarter net income dropped 12 percent, as investments in programing and other costs offset revenue growth.

The media and entertainment company’s adjusted profit and revenue beat Wall Street predictions.

Revenue rose at Time Warner’s Warner Bros., Turner and HBO arms, while it was flat at the company’s Time Inc. publishing division, which the company said it still plans to spin off by the end of the second quarter.

Time Warner’s revenue rose 7 percent to $4 billion, helped by the release of popular films such as “Gravity” and “The Hobbit: The Desolation of Smaug.” But that growth was partially offset by lower home video and TV licensing revenue.

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