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AOL Sees Revenue, Operating Income Plummet in Third Quarter

Authored by Mark Hefflinger on November 4, 2009 - 8:45am.
New York - With its spinout from parent Time Warner (NYSE: TWX) likely less than two months away, AOL continues to struggle financially, according to figures released on Wednesday.

For the third quarter, AOL saw its revenue drop 23% to $777 million, as subscription and ad revenue both fell by double digits.

As a result, operating income plummeted 50% to $134 million.

As of Sept. 30, 2009, AOL's dial-up Internet service had 5.4 million U.S. subscribers, down 438,000 from the prior quarter and 2.1 million from the same period in 2008.

"We still expect to spin off AOL by the end of the year, and we're making great progress on our other longer-term strategic priorities," said Jeff Bewkes, the chairman and CEO of Time Warner.

 

Related Links:
http://ir.timewarner.com/phoenix.zhtml?c=70972&p=quarterlyearnings

Published in DMW Daily, November 4, 2009
tags: Advertising | AOL | Time Warner | Financials |



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