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TimeWarner said fourth quarter sales rose 2% to $11.1bn from $10.9bn.For the full-year, TimeWarner posted a profit of $3.36bn, up 27% from its 2003 performance, while revenues grew 6.4% to $42.09bn.Quarterly profits at US media giant TimeWarner jumped 76% to $1.13bn (£600m) for the three months to December, from $639m year-earlier.However, the company said AOL's underlying profit before exceptional items rose 8% on the back of stronger internet advertising revenues.Its profits were buoyed by one-off gains which offset a profit dip at Warner Bros, and less users for AOL.For 2005, TimeWarner is projecting operating earnings growth of around 5%, and also expects higher revenue and wider profit margins.It lost 464,000 subscribers in the fourth quarter profits were lower than in the preceding three quarters.Time Warner's fourth quarter profits were slightly better than analysts' expectations.