TWM to screw customers back to higher profitability

Well, Time Warer Cable profits are down 26% from last year. Expect them to implement their recovery plan based around reduced customer service, rate increases, less options and poorer quality. A growing trend for them… 

Time Warner profit drops 26%, holds outlook – MarketWatch Time Warner profit drops 26%, holds outlook By MarketWatch Last update: 8:04 a.m. EDT Aug. 6, 2008 LONDON MarketWatch — Time Warner Inc. reported Wednesday that second-quarter net income dropped 26% on declining profits from its AOL and publishing arms. The New York-based media company TWX: 14.57, -0.31, -2.1% earned $792 million, or 22 cents a share, compared with $1.07 billion, or 28 cents a share, in the year-earlier quarter. Excluding one-time items, it would have earned 24 cents a share. Revenue rose 5% to $11.98 billion. Analysts had been expecting a profit of 24 cents a share on revenue of $11.5 billion, according to a FactSet Research survey. "Im pleased by the overall performance of our businesses so far this year, particularly in light of the challenging economic environment, and that were on track to achieve our business outlook," said CEO Jeff Bewkes. "This resilience reflects the strength of our brands, our expertise and our scale, which we think give us a sustained advantage in creating, packaging and distributing the industrys most compelling content — such as The Dark Knight, Sex and the City and The Closer."