AOL earnings hold up

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Cable did well, but advertising revenues dropped at AOL Time Warner Inc.
during the third quarter.

Time Warner Cable's revenues climbed by 17 percent to $1.8 billion. Cash flow
grew 11 percent to $791 million, about $50 million short of one analyst's
expectations.

Ad revenue actually increased 41 percent to $175 million because systems
increased the number of networks on which they sell local avails.

At the networks unit, Turner Broadcasting System Inc. and The WB Television
Network ad sales dropped 5 percent, but that was more than offset by gains in
license fees and a jump at Home Box Office.

Companywide revenue increased 6 percent to $9.3 billion, but cash flow rose
16 percent to $2.3 billion.

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