Time Warner reported net income of $1 billion for its second quarter on Wednesday, on the back of rising advertising revenue from its AOL division and growth in its cable TV operation.The figure beat the $409 million loss from the same period a year earlier. Revenue came in at $10.7 billion, the company said, up 1 percent from the previous year.AOL’s revenue declined by 2 percent due to falling subscription revenue. But Time Warner said the reduction was offset by rising advertising revenues. Ad revenue rose 40 percent, or $129 million. Subscription revenue fell by 11 percent, or $188 million. The company said its rising ad revenues reflected growth in three categories: display, pay-for-performance and paid search.Time Warner said it lost AOL subscribers and was affected by unfavorable foreign currency rates. Time Warner is seeking to sell its subscriber operations in Europe while retaining the overall AOL brand for a portal fueled by Time Warner content. As of June 30, AOL reported 17.7 million U.S. subscribers, a decline of 976,000 from the prior quarter and 3.1 million fewer than the same quarter a year before. AOL subscriber losses were less in Europe, dropping 218,000 users from the previous quarter down to 5.6 million members. The new figure represents a decline of 571,000 subscribers from a year earlier. Time Warner’s revenue from its cable division rose 15 percent to $2.7 billion. The division includes high-speed data, digital phone and digital video services revenue. The company said the average subscription revenue per basic cable subscriber rose 14 percent to $91 per month, and the number of subscribers increased.-Jeremy Kirk, IDG News Service (London Bureau)Related Links: Comcast, Time Warner Put Finishing Touches on Adelphia Deal Time Warner Telecom Buys Xspedius for $531.5MCheck out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content brandpost Sponsored by Freshworks When your AI chatbots mess up AI ‘hallucinations’ present significant business risks, but new types of guardrails can keep them from doing serious damage By Paul Gillin Dec 08, 2023 4 mins Generative AI brandpost Sponsored by Dell New research: How IT leaders drive business benefits by accelerating device refresh strategies Security leaders have particular concerns that older devices are more vulnerable to increasingly sophisticated cyber attacks. By Laura McEwan Dec 08, 2023 3 mins Infrastructure Management case study Toyota transforms IT service desk with gen AI To help promote insourcing and quality control, Toyota Motor North America is leveraging generative AI for HR and IT service desk requests. By Thor Olavsrud Dec 08, 2023 7 mins Employee Experience Generative AI ICT Partners feature CSM certification: Costs, requirements, and all you need to know The Certified ScrumMaster (CSM) certification sets the standard for establishing Scrum theory, developing practical applications and rules, and leading teams and stakeholders through the development process. By Moira Alexander Dec 08, 2023 8 mins Certifications IT Skills Project Management Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe