Feeds

AOL-Time Warner Net business doing nicely

More users, online for longer, and splashing out

  • alert
  • submit to reddit

Reducing security risks from open source software

AOL-Time Warner saw earnings rise for the first quarter, with its number of Net users growing by 16 per cent.

The media and Net monster, seemingly unaware that the dotcom economy was in the grips of a downturn, reported cash earnings per share of 23 cents, excluding charges, for the quarter ended March 31, 2001.

This compared to the 19 cents per share pro forma figure the previous year.

After expenses, including the merger-related costs for the two companies and other charges, the giant posted a net loss of $1.4 billion, or 31 cents per share, slightly less than the net loss of $1.5 billion, or 34 cents per share, a year earlier.

Sales grew nine per cent to $9.1 billion.

The company said overall revenue from Net subscriptions grew nine per cent to $3.9 billion, advertising and commerce revenues increased ten per cent to $2.1 billion, and content and other revenues reached $3.2 billion.

Total subscriptions grew 16 per cent to more than 133 million, with AOL adding two million users during the quarter (bringing its worldwide customer total to 28.8 million). Sales at the ISP for the quarter grew 17 per cent to $2.1 billion, with the average US AOL user spending 70 minutes online per day, compared to 64 minutes a year ago. ®

Related Link

AOL-Time Warner Q1 statement
Related Stories
AOL exceeds 29 million users
AOL UK bans time
AOL and Time Warner deal done

Eight steps to building an HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Bose says today IS F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
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
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.