AOL outdoes earnings expectations
update Fueled by strong revenue growth, America Online today said it nearly doubled its earnings for the third quarter and beat analysts' expectations.
America Online reported net profits of $117 million, or 11 cents per share, for the quarter ended March 31, excluding one-time events, compared with $39 million, or 4 cents per share, a year ago.
Analysts had expected the online giant to post earnings of 9 cents per share, according to First Call. But whisper numbers by Wall Street had figures as high as 11 cents.
Including charges and one-time gains, the company posted consolidated net earnings of $420 million, or 33 cents per share. This quarter marks the first one in which AOL's newly acquired Netscape Communications was folded into its financial operations. The figures compare with AOL's third-quarter loss of $78 million, or 8 cents per share, a year ago.
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