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AOL Posts Profit, Beating Wall Street's Expectations

2:24 pm on Feb 3, 2010 (gmt 0)

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AOL Posts Profit, Beating Wall Street's Expectations [uk.reuters.com]
AOL Inc posted a quarterly profit and beat Wall Street's revenue expectations, even though the weak advertising market and the Internet company's dwindling subscriber base dragged revenue down from a year ago.
AOL, which became an independent company once again in December after former parent Time Warner Inc spun it off, said net income for the fourth quarter was $1.4 million, or a penny a share.

This compares with a loss of $1.9 billion, or $18.52 a share, a year ago when the company took a $2.2 billion charge.

The latest quarter's earnings were hit by restructuring and other costs of around $110 million, or 70 cents per share.