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 financial crisis is having a serious impact on low-income countries.
more »
The agreement was welcomed by the EU, which has led efforts to crack down on loose banking practices that caused the financial crisis.
more »
On 31 March this year, the boards of AB Bank SNORAS and AB “Invalda” approved of the purchase and sales transaction of AB “Invalda” financial group's companies.
more »
MEPs will vote on Thursday 2 April on a first reading agreement on the voluntary EU Ecolabel (“EU flower”) system for environment-friendly products to become less costly and bureaucratic to use.
more »
The fourth quarter of 2008 was not so good for the banking industry, and the financial conditions of commercial banks and savings and loans is expected to further deteriorate for the rest of 2009 and the first part of 2010, according to LACE Financial Corp.
more »
MEPs recently gave the green light to a new trade deal between Europe and Caribbean countries.
more »
New VoIP Features Boost Flexibility, Mobility, Cost Savings for Organizations Seeking to Untether Workers.
more »
According to the revised data, in IV quarter 2008, GDP at current prices made LTL 28578.8 million and against IV quarter 2007 decreased by 2.2 per cent.
more »
The EP Fisheries Committee rewrote the rules on recreational fishing in its consultative report, adopted Tuesday, on a proposed “control regulation” to ensure compliance with common fisheries policy (CFP) rules.
more »
In a measure of the Union’s strong growth prior to the financial crisis, the demand for EU trademark rights has shot up in recent years, creating an unexpected budget surplus.
more »