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Time Warner Raises Outlook; Ad Rev Up 9%

Reuters, Wednesday, November 3, 2010 10:56 PM

Time Warner raised its full year outlook after quarterly revenue rose on strength at its network division, though it was unclear if the advertising recovery will sustain its momentum next year. The company, whose shares were down 1% in pre-market trading, reported on Wednesday third-quarter revenue of $6.38 billion slightly below analysts average revenue forecast of $6.41 billion, according to Thomson Reuters.

"Advertising looks extremely strong right now," said Alan Gould, an analyst with Evercore Partners. "In terms of what happens next is going to be a function of the economy." Time Warner expects its profit excluding one time items to rise in the high 20-percentage-point range, up from its previous forecast of at least 20%.

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advertising, media, revenue

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