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
In European sustainable energy week 2010, new EU energy commissioner presents strategy to reduce Europe’s dependence on fossil fuel.
more »
The EBRD is launching a Project Complaint Mechanism, which is expected to enhance the accountability and transparency of the Bank’s operations.
more »
The EBRD is boosting the availability of local currency financing in Armenia with a synthetic loan in Armenian Drams (AMD) worth $4 million to FINCA UCO CJSC for on-lending to local micro and small enterprises (MSEs).
more »
This year is the UN year of biodiversity and it brings endangered species into the spotlight.
more »
The World Bank Board of Directors today approved a US$65 million project to support the recovery of Haiti’s critical infrastructure as well as the reestablishment of basic State functions following the devastating 7.0 magnitude earthquake on January 12, 2010.
more »
Haiti’s arduous reconstruction and recovery process jolted forward today following fresh commitments to help the Caribbean nation rebuild in the wake of its devastating January 12 earthquake.
more »
A mission from the African Department of the International Monetary Fund (IMF) visited Uganda during March 4-17, 2010, to conduct the seventh and final review under Uganda’s Policy Support Instrument (PSI) and reach understandings on a policy framework for a new three-year PSI to cover the period 2010 to 2013.
more »
The European Economic and Social Committee (EESC), as the first EU institution, rose to the challenge of providing a comprehensive vision for the future of the Common Agriculture Policy (CAP), in advance of the European Commission's papers on the matter, due to be issued later this year and in 2011.
more »
The outlook for primary energy supplies, heat, and electricity is questionable for the Eastern Europe and Central Asia region, despite Russia and Central Asia’s current role as a major energy supplier to both Eastern and Western Europe.
more »
The Executive Board of the International Monetary Fund (IMF) today approved a 36-month, SDR 513.9 million (about US$790 million) Stand-By Arrangement (SBA) for El Salvador to help the country mitigate the adverse effects of the global crisis.
more »