Time Inc. Sees Turn Around in Advertising and Subscription Revenue

It’s a small victory for Time Warner, but not insignificant: Time Inc.’s ad revenue and subscription income actually increased in the first three months of 2010, reports Peter Kafka.

Meanwhile, Time Inc.’s operating income improved dramatically to $50 million; a year ago the unit posted a $32 million loss. Chalk that up to the multiple rounds of layoffs and cost-cutting measures Ann Moore pushed through in the past couple of years.

Time Inc. still took a loss after selling part of Southern Living at Home’s direct sales business. The company’s earnings call is scheduled for 10:30 this morning.