EARNINGS REPORT: Time Warner beats expectations

> Media conglomerate Time Warner is reporting third-quarter profits Wednesday that beat Wall Street expectations. Time Warner’s cable-access and cable-network businesses were strong, while the AOL online unit continued to weigh down the company. Time Warner Inc. says net income was $1.07 billion (30 cents per share), compared with $1.09 billion (29 cents per share) a year earlier. Revenue rose slightly to $11.71 billion from $11.68 billion.

> Time Warner Cable Inc. said profit rose 21 percent ($301 million, or 31 cents per share) partly on stronger high-speed data and voice revenue. The New York-based cable operator, which is set to finalize its separation from parent Time Warner Inc. by the end of the year, said revenue climbed 8 percent to $4.34.

> Polo Ralph Lauren Corp., designer of Chaps and Club Monaco clothing, reported profit that rose 40 percent (to $161 million, or $1.58 a share).

> Brewer Molson Coors’ profit rose 28 percent ($134.7 million, or 74 cents), but that result missed analysts’ expectations.

> Weight Watchers International Inc. said earnings rose 7 percent ($52.7 million, or 67 cents per share) on higher sales of its weight-loss products and services.

> IAC/InterActiveCorp swung to a loss ($14.8 million, or 11 cents per share) because of expenses related to the former Internet conglomerate’s August split into five publicly traded companies.

> Insurance brokerage Marsh & McLennan Cos. reported a loss ($8 million, or 2 cents per share), reversing a year-ago profit when it got a boost from the sale of Putnam Investments.

> Sara Lee Corp. said profit rose 15 percent ($230 million, or 32 cents per share) as the maker of Hillshire Farm deli meat benefited from a weaker dollar and raised prices to help offset rising commodity costs.

> Duke Energy Corp.’s profit fell 65 percent ($215 million, or 17 cents per share) due to what the company called the worst Midwest storm-related outages ever, worsening economic conditions and mild weather.

> Pharmacy benefits manager Medco Health Solutions Inc. said profit rose 38 percent ($295.7 million, or 58 cents per share) on higher prices for brand-name drugs and new clients.

> Sanyo Electric Co., a troubled electronics maker that may get bought out by bigger Japanese rival Panasonic, reported profit ($44 million) dwindled to about a third of what it was a year earlier.

> Bond insurer Ambac Financial Group Inc. said its loss widened ($2.43 billion, or $8.45 per share) sharply as it increased loss reserves for mortgage-backed securities and took write-downs on credit derivatives.

> Britain’s largest commercial broadcaster, ITV, said revenues ($2.3 billion) for the first nine months of the year were little changed from last year despite the economic downturn.