Time Warner's Bad Earnings

Again, stay away from this dog stock until they figure out what they wamt to do with AOL. Spin it off or dissolve the has-been dial-up company.

For the three months ending Sept. 30, Time Warner earned $499 million, or 11 cents per share, compared with $541 million, or 12 cents per share, in the year-ago period. Revenues rose to $9.97 billion from $9.50 billion.

Excluding several one-time items, including the $500 million legal reserve and gains from investments in Google Inc. and Viva Media, the owner of a German music TV channel, the company earned 15 cents per share versus 11 cents per share in the same period a year ago, on a comparable basis.

Time Warner's shares rose 31 cents, or 1.9 percent, to close at $16.59 Wednesday on the New York Stock Exchange, where shares were moving generally higher as Senator John Kerry conceded the election to President Bush.

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