Warner Music Profit Falls 74% as Fewer Albums Are Released
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The Warner Music Group said first-quarter profit fell 74 percent on an 11 percent decline in sales.
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The leader in online DVD rentals expects its profit to sag the rest of this year as it absorbs the cost of lowering its subscription plan to ward off a threat from Blockbuster.
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Apple Inc  on Tuesday forecast a quarterly profit below analysts' expectations and posted disappointing holiday-season iPod shipments, sending its shares down 11 percent in after hours trade on concern consumers were cutting spending.
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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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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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Internet media company Yahoo Inc.  on Tuesday reported a dip in quarterly profit, weighed down by weak display advertising, and gave a weaker-than-expected forecast through the end of 2007.
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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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Rupert Murdochâs media company said quarterly profit fell 24 percent from a year earlier, when it had a one-time gain from asset sales.
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EMI, the world&#39;s third-largest music group, has reported a 7 percent drop in first-half profits but says the beleaguered industry is rebounding as digital music sales start to take off.
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HMV Group PLC reported Thursday that full-year profits fell 71 percent amid intense competition, and the British music and books company said it was in talks about selling its unit in Japan.
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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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Media giant Time Warner Inc. said Wednesday that third-quarter earnings declined year-over-year, and said it established $500 million in legal reserves related to pending government investigations and intends
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The newspaper publisher and television station operator said fourth-quarter profit dropped 70 percent, hurt by a write-down and less political advertising revenue.
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EMI, the world's third-largest music group, reported a 7 percent drop in first-half profits on Friday but said the beleaguered industry was rebounding as digital music sales start to take off.
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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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[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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The countryâs largest newspaper publisher said Friday that its fourth-quarter profit dropped because of a decline in broadcasting revenue and weak newspaper ad sales.