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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: Sabrejet who wrote (32986)	10/20/1999 8:08:00 PM
From: puborectalis	Respond to of 41369

AOL Surges On E-commerce Revenue, Membership (10/20/99, 6:41 p.m. ET) By Mary Mosquera, TechWeb America Online beat Wall Street estimates for the eighth consecutive quarter with first quarter 2000 earnings released Wednesday surging on record membership and advertising revenue. The world's largest Internet provider reported earnings of $184 million, or 15 cents a diluted share, for the quarter ended Sept. 30, overwhelming the $50 million, or 4 cents a share, in the same quarter last year. First Call's consensus of analysts' expectations was for 13 cents. Revenue for the quarter shot up to $1.47 billion, 47 percent more than last year. "Our core AOL service is becoming more and more central to our members' lives, and we are achieving added growth through our expanding roster of interactive brands, which now reach eight out of 10 U.S. Internet users," said AOL CEO Steve Case. The Dulles, Va., online service and content provider added 1.1 new members worldwide, with a total 18.7 million subscribers. CompuServe accounted for 378,000 new members. Subscription revenue swelled to $995 million, up from $723 million in the year-ago quarter. Member usage averaged 55 minutes daily online, increasing eight minutes over last year. Analysts say subscriber growth was helped by PC rebate promotions that lowered the costs of getting online. Revenue from advertising and e-commerce doubled to $350 million from $175 million at the same time last year, indicating the company will wrack up higher revenue as the price of Internet access decreases. Even more significant for future income, the company reported a $2 billion backlog in advertising, adding $500 million just since the last quarter. AOL's Instant Messenger registered 70 million users, 20 million from Netscape Netcenter, and from the ICQ brand, 45 million net users. Two weeks ago, AOL launched its 5.0 release, already downloaded by 3.6 million members. Shares of AOL ended up 5 to 120 1/4 before the company issued its results.