Las Vegas Sun

March 28, 2024

AOL beats profit forecasts

America Online reported record revenue and earnings in its third fiscal quarter, crediting subscription growth, advertising sales and online commerce fees in handily beating analysts' estimates.

Excluding one-time items, the company earned 11 cents per diluted share, beating the consensus estimate of 9 cents, according to First Call/Thomson Financial, and meeting the so-called whisper number.

For the quarter ended March 31, America Online reported earnings of $438 million, or 17 cents per diluted share, up from $411 million, or 16 cents per share, in the comparable period a year ago. Revenue rose 38 percent to $1.8 billion from $1.3 billion in the third quarter of fiscal 1999, which did not include revenue from Netscape.

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