Time Warner Q3 revenue skids to 7bn

Revenue at $7.1 billion fell by six per cent from the third quarter of 2008. Operating income decreased by 10 per cent to $1.4 billion.

For the Content Group (which consists of the Networks, Filmed Entertainment, Publishing and Corporate segments), revenues were down by three per cent, Adjusted OIBDA decreased by one per cent and operating income declined by two per cent.

The decline in ad revenues was due to lower paid-search and display advertising on AOL Media, reduced sales of advertising on third-party Internet sites and the unfavourable impact of foreign exchange rates.