Earnings roundup: News Corp., Time Warner

Earnings roundup: News Corp. cuts its forecast; Time Warner's net income grows

Associated Press

Among the earnings stories for Wednesday, Feb. 6, from AP Business News:

— Media conglomerate News Corp. cut its forecast for annual earnings, saying underperformance at several businesses including its Fox broadcast network would offset a gain in earnings in the most recent quarter.

— Time Warner Inc. said that net income grew 51 percent in the last three months of 2012 even as revenue was largely unchanged. Rising fees from cable and satellite companies and higher ad revenue at the TV networks offset revenue declines at the movie studio and magazine businesses.

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