Time Warner Inc. (TWX) said its fourth-quarter net income attributable to Time Warner Inc. shareholders was $627 million or $0.53 per share compared with a loss of $16.03 billion or $13.41 per share recasted in the prior year period.
Adjusted income from continuing operations for the quarter rose to $651 million from $228 million recasted in the year-ago period. Adjusted earnings per share for the quarter were $0.55, up from $0.19 per share recasted in the earlier period.
Total revenues for the quarter increased to $7.32 billion from $7.16 billion in the comparable period.
Time Warner expects its 2010 full-year growth rate in adjusted income per common share from continuing operations to be in the mid-teens, off a 2009 adjusted EPS base of $1.83.
The company expects its 2010 full-year growth rate in income per common share from continuing operations to be in the mid-teens, off a 2009 EPS base of $1.74.
The company said that its board increased stock repurchase program to $3 billion.
In a separate press release, Time Warner announced that its Board has approved an increase in the Company's regular quarterly cash dividend of 13.3%. On an annual basis, Time Warner's regular cash dividend on its Common Stock will grow from $0.75 per share to $0.85 per share.
The Board of Directors also declared a regular quarterly dividend of $0.2125 per share on its Common Stock, payable in cash on March 15, 2010 to stockholders of record at the close of business on February 28, 2010.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.