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
The European Commission has decided to grant an extension of the deadline for the divestment of Fortis' corporate banking business, consisting of Hollandsche Bank Unie N.V. (HBU), two corporate client departments, 13 "Advieskantoren" and ABN AMRO's Dutch factoring activities to Deutsche Bank.
more »
MEPs will vote on an emergency plan to help the crisis-stricken sector dairy sector on Thursday after the Agriculture Committee approved the Commission's proposal on Monday evening in Strasbourg.
more »
The EBRD is boosting competition in the Montenegrin retail sector with a loan to expand the supermarket network of one of the leading retailers in the country.
more »
Redmond, Wash. — Oct. 16, 2009— On Oct. 19, Microsoft CEO Steve Ballmer heads to the sold-out Microsoft sharepoint Conference in Las Vegas where he will address more than 7,000 sharepoint customers, partners and developers.
more »
Proposals tabled for collaboration on sea surveillance, bigger EU role in global maritime affairs and sustainable fishing.
more »
$50 million financing package for agricultural commodities operator.
more »
Seeking to increase sheet-metal production volumes, Stansefabrikken decided to move all company’s production from Lillesand (Norway) to Stansefabrikken’s successfully operating factories in Lithuania.
more »
The European Economic and Social Committee (EESC) and the European Commission Representation in Finland jointly organise a conference in Helsinki on 22 and 23 October on "The Baltic Sea Region: the best place to work and do business".
more »
Why did economy rise drastically turn into painful decline and what price will every of us have to pay for that?
more »
The economies of central and eastern Europe are expected to contract by an average of 6.3 per cent in 2009 following steep output declines in the first half of the year.
more »