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AOL Posts a Profit
AOL Inc posted a quarterly profit and beat Wall Street's revenue expectations, even though the weak advertising market and the Internet company's dwindling subscriber base dragged revenue down from a year ago.
AOL, which became an independent company once again in December after former parent Time Warner Inc spun it off, said net income for the fourth quarter was $1.4 million, or a penny a share.
This compares with a loss of $1.9 billion, or $18.52 a share, a year ago when the company took a $2.2 billion charge.
The latest quarter's earnings were hit by restructuring and other costs of around $110 million, or 70 cents per share.
Revenue fell 17 percent to $809.7 million as it lost subscribers in its dial-up access business, and earned less revenue per search query in its online advertising business.
AOL, which became an independent company once again in December after former parent Time Warner Inc spun it off, said net income for the fourth quarter was $1.4 million, or a penny a share.
This compares with a loss of $1.9 billion, or $18.52 a share, a year ago when the company took a $2.2 billion charge.
The latest quarter's earnings were hit by restructuring and other costs of around $110 million, or 70 cents per share.
Revenue fell 17 percent to $809.7 million as it lost subscribers in its dial-up access business, and earned less revenue per search query in its online advertising business.
