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

To: Brian Malloy who wrote (33002)	10/20/1999 11:43:00 PM
From: hasan syed	Read Replies (1) \| Respond to of 41369

AOL Quarterly Earnings Triple By PAUL TOLME .c The Associated Press SPRINGFIELD, Va. (AP) - America Online Inc. reported quarterly earnings of $184 million Wednesday as it trumpeted a deal to have its Internet software loaded onto computers sold by Gateway Inc. The deal with Gateway, which will receive $800 million over two years, will allow AOL to reach even more consumers in a time when it continues to expand its global reach, company officials said. The announcement came as AOL released first-quarter earnings of 15 cents per diluted share. The $184 million was up from $50 million, or 4 cents per share, in the same period last year. Analysts surveyed by First Call/Thomson Financial had been expecting earnings of 13 cents a share. Revenues rose to $1.5 billion, a 47 percent increase over last year's first quarter. AOL added nearly 1.1 million new members worldwide in the period ended Sept. 30, giving the world's largest Internet service provider 18.7 million customers. Chairman and chief executive officer Steve Case said the results show the growing importance of AOL's products in the lives of Internet users. AOL products reach eight of 10 American Internet users, he said. ``This quarter's results clearly demonstrate America Online's leadership and growing earnings power,' he said. The Dulles, Va.-based company's subscription revenues reached $995 million, and the average daily minutes online of its members hit 55 minutes, an increase of eight minutes over last year's first quarter. Revenues from advertising, commerce and other sources climbed to $350 million, up from $175 million a year ago. To expand its reach, the company is making its e-mail services available on Palm Pilot hand-held computers and last week announced an alliance with Motorola that will allow users of AOL's instant messaging service to communicate with users of Motorola's wireless devices. The company also continued to broaden its services, signing a deal with drkoop.com, the online health care information company headed by former Surgeon General C. Everett Koop. AOL also expanded its travel and personal finance offerings during the quarter. Shares of America Online rose $2.75 in trading Wednesday to $118 on the New York Stock Exchange. In after-hours trading, investors pushed AOL shares down a bit to $117.50. AP-NY-10-20-99 1844EDT