AOL Q2 earnings beat expectations

America Online reported second-quarter earnings that beat Wall Street expectations and saw the company's revenues rise to $US960 million, a 62 per cent increase over the year-earlier period, AOL announced on Wednesday.

The Dulles, Virginia-based company said net income for its second fiscal quarter, which ended December 31, 1998, jumped 340 per cent from the year-earlier period to $88 million or 17 cents per diluted share. The earnings per share figure exceeded the 14 cents expected by 31 brokers polled by First Call.

Revenues from advertising and electronic commerce grew to $126 million, a 22 per cent rise over the first quarter and a 133 per cent jump over the year-earlier quarter's $54 million, the company said.

Revenues from subscriptions climbed to $779 million, or 61 per cent over the same period last year.

The company's number of subscribers jumped by 1.6 million members yielding a total of 15.1 million AOL members worldwide, the company said.

AOL said it expects its pending acquisition of Netscape Communications to close around the second quarter of this year.

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