Time Warner Profits Up 7 Percent on Advertising Gains

By Dylan Stableford
Published: August 04, 2010

Time Warner posted a 7 percent bump in profit during the second quarter, as advertising revenue rose and the company’s film studio and television divisions delivered strong performances.

The news comes on the heels of a glowing quarterly earnings report by CBS Corp. and ahead of expected positive reports from News Corp., Viacom and Disney -- a sign that the industry’s post-recession turnaround is beginning to accelerate.

Time Warner also upped its revenue forecast for the rest of the year.

"Our investments in high-quality content across the company continue to pay off,â€