Time Warner Inc. reported a higher first-quarter profit, driven by strong results in cable TV and a gain from selling its book group, but investors were disappointed by another slump at AOL. Profit at the New York-based media conglomerate jumped nearly 60 percent to $1.46 billion, or 32 cents a share, in the January-March period from $915 million, or 19 cents per share a year ago, as revenues rose 1 percent to $10.46 billion. Time Warner's properties include Warner Bros., Time Inc., CNN and HBO. Even after stripping out the $206 million gain from the book group sale and other one- time effects, earnings rose 32 percent to $1.2 billion from $908 million, or to 26 cents per share versus 19 cents.

Marsh & McLennan Companies Inc., the nation's largest insurance brokerage, said its net income tripled in the first quarter from a year earlier, although revenue came in a bit below analysts' expectations. The New York-based brokerage said it earned $416 million, or 75 cents a share, in the January-March period, up from $134 million, or 25 cents a share, a year earlier. Excluding the sale of a claims servicing company in January, net income was $238 million, or 43 cents a share, in the first quarter compared with $129 million, or 24 cents a share, in the year-earlier period. First quarter earnings would have been 54 cents a share without special items and the expensing of stock options, the company said. Revenue was $3.03 billion in the quarter, down from $3.07 billion a year earlier.

Electronic Data Systems Corp., which runs computer systems and call centers for other companies, said it earned $24 million, or 5 cents per share, compared with $4 million, or a penny per share, a year earlier. Revenue rose 7 percent, to $5.08 billion from $4.74 billion a year earlier. EDS is trying to break a string of four straight years of falling sales.

Insurance company Cigna Corp. reported a 19 percent decline in first-quarter profit and issued an outlook for full-year earnings that falls short of Wall Street's expectations. An 18 percent profit drop in its core health-care business weakened results for the quarter, leading to a net income of $352 million, or $2.87 a share, compared with $436 million, or $3.28 a share, in the same period a year ago. The earnings last year were boosted by a one-time gain. First-quarter revenue fell more than 5 percent to $4.1 billion.

Procter & Gamble Co. said its third-quarter profit jumped 37 percent, but the consumer products company's stock slid on weaker than expected sales figures and a fourth-quarter earnings forecast that was below Wall Street projections. The maker of Tide detergent, Pampers diapers and Crest toothpaste earned $2.21 billion, or 63 cents a share, for the quarter ended March 31, compared with $1.61 billion, or 59 cents per share, a year ago. Revenue rose 21 percent to $17.3 billion from $14.3 billion a year ago, helped by the company's acquisition of Gillette Co. last year.

TRW Automotive Holdings Corp., one of the world's largest auto parts suppliers, said its first-quarter profit slipped 6 percent on expenses related to a bond transaction for a subsidiary. Livonia- based TRW earned $47 million, or 46 cents per share, in the January- March period from $50 million, or 50 cents per share, in the year- ago period. Excluding $57 million in expenses for redeeming bonds of its Lucas Industries Ltd. subsidiary, earnings were $104 million, or $1.01 per share. Revenue increased 5 percent to $3.4 billion compared with $3.23 billion during the same period last year on its October acquisition of Dalphi Metal Espana SA, higher safety product sales and increased vehicle production primarily in Europe.

Clear Channel Communications Inc., the largest radio-station owner in the U.S., said its earnings more than doubled, helped by a benefit from selling assets. Net income rose to $96.8 million, or 19 cents per share, compared with $47.9 million, or 9 cents per share, during the year-ago period. Revenue grew 4 percent to $1.5 billion from $1.45 billion last year.

BMW AG, the German automaker, said Wednesday that first-quarter net profit rose 81 percent, helped by the sale of its stake in engine maker Rolls-Royce Group PLC and improved demand for its luxury sedans. BMW earned 948 million euros ($1.2 billion) in the first three months of 2006, compared with 525 million euros in the year-ago period. Revenue rose 12 percent to 11.6 billion euros ($14.67 billion) from 10.3 billion euros in the first three months of 2005. Pretax profit rose 58 percent to 1.3 billion euros ($1.64 billion) from 822 million euros, with the company booking a 375 million euros ($474.1 million) gain on the sale of the Rolls-Royce stake.

Prudential Financial Inc., the life insurance and investment giant, reported first-quarter profit declined 11.9 percent from a year ago, as income fell from its investment division. Quarterly financial services profit was $675 million, or $1.38 a share, compared with $766 million, or $1.49, for the same period in 2005. Total quarterly revenue rose 9.5 percent to $6.13 billion from $5.6 billion a year earlier. After-tax adjusted operating income rose 11.3 percent to $669 million. Assets under management amounted to $547 billion on March 31, compared with $496 billion a year earlier.

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