engine - 5:09 pm on Apr 28, 2010 (gmt 0)
AOL Posts Q1 Earnings, Ad Sales Fall To $354.3 Million [online.wsj.com]
AOL Inc.'s first-quarter earnings fell 58% as advertising revenue dropped, a decline the Internet company blamed on a restructuring of its sales force.
Advertising sales, the New York-based Internet portal's key revenue sources, dropped 19% to $354.3 million as the company shed salespeople in order to reduce costs. In its earnings release, the company cautioned investors that "AOL continues to experience significant revenue declines."