Warner Music Group 1Q earnings plummet
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Warner Music Group Corp., home to recording artists such as Red Hot Chili Peppers, James Blunt and Daniel Powter, said Thursday its first-quarter profit fell 74 percent due to fewer albums released during the period and soft domestic and European sales. Its shares fell nearly 5 percent.
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Time Warner Inc said on Wednesday it  expects profit growth to slow in 2008 but possibly exceed Wall  Street estimates after it reported quarterly earnings that  reflected increases in broadband and phone subscribers and  sales of "Harry Potter" and "300" home videos.
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Printer maker Lexmark International Inc  on Tuesday said third-quarter profit fell sharply, and it would take restructuring steps that will affect about 1,650 jobs.
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Britain's EMI Group Plc  rejected a 2.1-billion-pound ($4.1 billion) cash takeover proposal from Warner Music Group , saying the price was inadequate and not in the best interests of its shareholders.
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Radio One yesterday reported a 71 percent decline in profit for the first quarter of the year compared with the corresponding period in 2006, as the Lanham company works to realign its strategy in urban markets.
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At the US-based Fox Entertainment Group, first-quarter profits fell 20 percent to US$320 million, or 33 cents per share, from $401 million, or 45 cents per share, last year.
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Higher ingredient prices and restructuring costs pushed General Mills&#39; first-quarter earnings down 19 percent, the cereal giant reported Tuesday.
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A continuing decline in advertising revenue pushed second quarter profits lower at two major publishers.
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U.S. stocks fell on Friday, with major indexes sliding 1 percent, after bellwether stocks, including Caterpillar Inc.  and Google Inc , posted disappointing earnings.
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Net income at Loews fell to $512 million, hurt by subprime investment losses at its CNA Financial insurance business and weaker results in its tobacco and drilling units.
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Warner Music Group Corp  on  Friday posted a fourth quarter profit helped by gains from  litigation against online music service Kazaa, but sales fell  due to a weak release schedule compared with a year ago.
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Warner Music Group Corp  on Friday posted a fourth-quarter profit, but revenue sagged in line with broader weakness in the recorded music and music publishing businesses.
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EMI said Warner Musicâs cash offer was not in the best interests of shareholders and placed too low a value on the company.
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External cost pressures dragged on the company's first-quarter results.
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Warner Music Group Corp. reported on  Thursday a worse-than-expected 74 percent drop in quarterly  profit as its artists had fewer big hits, sending shares more  than 5 percent.
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Creative Technologies Ltd., whose range of MP3 players competes with Apple&#39;s iPod and similar products from Sony Corp., said Thursday that its net profit plunged 84 percent in the fiscal first quarter on investment losses and higher costs.
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TIME Warner has reported an eight per cent drop in third-quarter net profit as it set up a Â£270 million legal reserve and said it will restate results for AOL Europe prior to 2002.