AOL Time Warner reports steep third-quarter loss

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New York--AOL Time Warner Inc. reported a net loss of $996 million, or 22 cents a share, for the third quarter, compared with a net loss of $902 million, or 21 cents a share, a year earlier. The loss included $134 million in merger-related expenses and $196 million in pre-tax charges related to investments. Revenues for the period were $9.3 billion, up from $8.8 billion for the same quarter last year, led by a 13% gain in subscriptions. But advertising and commerce revenues declined 5% to $1.9 billion in the third quarter.
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