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CORRECT: Time Warner Profit Rises, Revenue Falls

Time Warner Inc. reported its quarterly profit rose 24% to $720 million, or 75 cents a share, from $581 million, or 59 cents a share, a year earlier. The company reported adjusted earnings per share of 82 cents on profit of $785 million. Revenue fell to $6.94 billion, from $6.98 billion a year earlier, the media company said Wednesday. Analysts had expected earnings of 75 cents a share on revenue of $7.15 billion, according to FactSet. Jeff Bewkes, CEO and Chairman, said the strong first-quarter results make the company "even more confident" in its full-year outlook. Shares of Time Warner were unchanged at $60.55 in premarket trading. (Corrects company name and adjusted earnings.)Copyright © 2013 MarketWatch, Inc....

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    On the Warner Bros. lot in Burbank, Calif. last Wednesday, more than 100 current and former executives gathered to watch a documentary celebrating the 90th anniversa...

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