Feeds

AOL sees huge hike in profit

ISP in upbeat mood -- who wouldn't be?

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

AOL has reported that its second quarter after-tax profits romped ahead by 340 per cent to $88 million, confirming its position as one of the world's leading Net companies. Revenues from subscriptions climbed to $779 million, an increase of 61 per cent over the same period last year. And revenues from advertising and commerce rose to $126 million, an increase of 133 per cent. Predictably, the company was delighted about its performance especially since it even seemed to take some analysts by surprise. "With this quarter's record results, we continued to build excellent momentum throughout our operations and across all brands," said Steve Case, chairman and CEO of AOL. He spoke freely about 1998 being a watershed for the Net explaining to reporters that it had now truly come of age. In a separate announcement, AOL's board of directors voted for a two-for-one split of the company's common stock. The split will take place on 22 February when stockholders will receive an additional share for every one they own. Anyone who bought 1000 shares for $11,500 at the company's initial public offering in 1992 -- and who still held stock -- would, after the latest split, own 64,000 shares worth around $5 million. ®

The Power of One Infographic

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
US freemium mobile network eyes up Europe
FreedomPop touts 'free' calls, texts and data
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.