Newly merged media conglomerate AOL Time Warner's earnings beat Wall Street expectations for the first quarter, and the announcement helped its stock price gain US$5 per share in Wednesday morning trading.
Published:
18 April 2001 y., Wednesday
The company on Wednesday announced cash earnings per share of $0.23 for the quarter ending March 31. According to Thomson Financial/First Call, analysts on Wall Street had estimated the company's EPS to be $0.20 on average.
"We couldn't be more pleased with AOL Time Warner's performance in our first quarter as a new company," AOL Time Warner CEO Gerald Levin said in a prepared statement. "Our businesses are working as one unified organization to deliver shareholder value over the near- and long-term."
Added Levin: "This outstanding quarter underscores the unique promise of AOL Time Warner, and the ability of our management team to collaborate in a focused, disciplined way."
On total revenues of $9.1 billion, AOL Time Warner posted overall first-quarter 2001 earnings before interest, taxes, depreciation and amortization of $2.1 billion. This reflects a 20 percent gain over the $1.8 billion the two companies earned the previous year.
Last year's numbers were reported on an adjusted pro forma basis, as if the two companies had merged on January 1st, 2000 rather than January 10th, 2001. These earnings do not take into account merger-related costs, officials said.
Šaltinis:
NewsFactor Network
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Mr. Olli Rehn, European Union Commissioner, and Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following joint statement on Greece.
more »
The offering of shares of the new issue will commence on 03-05-2010.
more »
The World Bank today approved a $12 million IDA credit to Bhutan, designed to improve infrastructure services in parts of the capital city of Thimphu where no formal services are currently available.
more »
Fisheries ministers and stakeholders alike will be discussing the future shape of the EU's Common Fisheries Policy at two major events in Spain over the next days. On 2 and 3 May, in La Coruña, the Commission and the Spanish Presidency are organising a large stakeholder conference on the reform of the Common Fisheries Policy.
more »
Asia is leading the global recovery and the region’s contribution to global growth will continue to exceed that of other regions in the next two years, the International Monetary Fund (IMF) said today in its latest Regional Economic Outlook (REO) for Asia and the Pacific.
more »
The EBRD is supporting the modernization of the electricity distribution network and the development of renewable energy sources in Poland with a PLN 800 million loan (equivalent to approximately €205 million) to the Energa energy group in order to help the company strengthen its power grid.
more »
At the beginning of the summer this year, Vilnius will become the capital of the Baltic Sea region. On 1-2 June 2010, the city will host the Baltic Sea States Summit and the Baltic Development Forum (BDF) Summit.
more »
Visitors of the World Expo 2010, which will open in the Chinese city of Shanghai on May 1st under the slogan “Better City, Better Life” and will last for 184 days until the end of October, are kindly invited to get into a hot air balloon at the Lithuanian Pavilion.
more »
According to preliminary data, unaudited net loss sustained over the first quarter of the year 2010 by SEB Bank is LTL 59,4 million (EUR 17,2 million) and that by SEB Bank Group is LTL 80,3 million (EUR 23,3 million).
more »
European Globalisation Adjustment fund (EGF) aid must be delivered faster and more simply to unemployed workers hit by the financial crisis or globalisation, concluded the Budgets and Employment committees after evaluating the fund on Wednesday.
more »