Warner Music posts profit but revenue down
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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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The newspaper publisher and television station operator said third-quarter profit fell to $2.5 million as ad revenue slumped.
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Warner Music Group Corp  on Friday posted disappointing operating results and said it saw substantial pressure on operating income in the current quarter, and shares slid as much as 3 percent.
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Shares in Warner Music Group Corp.   fell 8.6 percent on Wednesday after rival record  company EMI Group Plc  issued a profit warning on  slowing sales in the North American music market.
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Profit fell 94 percent in the third quarter as sales fell in the companyâs cell phone business, but it forecast better-than-expected fourth-quarter results.
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MANCHESTER United yesterday reported lower annual profits of Â£27.9m as it warned future results would be affected by a drop in media revenues.
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[New York | Reuters News Service, 4 November 2004] - Time Warner yesterday posted an 8% drop in quarterly net profit as it set up a $500 million legal reserve related to accounting probes at its America Online division and said it will restate results
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Fox Entertainment Group Inc. on Wednesday posted a sharp drop in first-quarter profit despite improved operating income from its movie and television groups, saddled by costs from the acquisition of a stake in DirecTV Group Inc.
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Warner Music Group Corp&#39;s Chief  Executive said on Monday the music company&#39;s business was  poised to rebound as it tapped new revenue streams to counter  the decline in sales of traditional CDs.
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Time Warner, the world&#39;s largest media company, on Wednesday said third-quarter profit fell as it established a $500m legal reserve and it will restate results for its AOL Europe unit prior to 2002.
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UTStarcom Inc. on Tuesday said its third-quarter profit plummeted, but beat Wall Street expectations. The networking products company reported earnings of $5 million, or 4 cents per share, down from $59.
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KNOXVILLE, Tenn. -- Regal Entertainment Group, the country&#39;s largest owner of movie theaters, Tuesday said its profit fell 37 percent in the third quarter, as box office receipts slipped.
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The Washington Post Co. said yesterday that its fourth-quarter profit was down 7 percent, to $95.5 million from $102.4 million in the fourth quarter of 2005, despite a 10 percent gain in revenue.
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Blockbuster Inc.  on Wednesday posted a &#36;1.42 billion quarterly loss due to a charge, while profit from its operations slid due to higher marketing costs, falling rental demand and escalating competition.
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While digital revenues were up 41 percent from last year, Warner Music's overall profits dropped 45 percent and revenues remained stagnant.
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Time Warner Inc., the world&#39;s largest media company, said Wednesday that its third quarter earnings slid 8 percent as it set aside a $500 million reserve because of pending government investigations.
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Time Warner Inc. reported a 7.8% decline in third-quarter earnings as it set up a $500 million legal reserve related to continuing investigations into its America Online unit.