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AOL reports record earnings

Published on .

America Online, Dulles, Va., beat its First Call consensus estimate of 9 cents by 2 cents, reporting net income of $117 million, or 11% per diluted share, for its fiscal third quarter ending March 31. That number excludes results of Netscape Communications Corp. This compares with net income of $39 million, or 4 cents per share, on the same basis in the first quarter of 1998. Company revenue hit nearly $1.3 billion for the third quarter, a 66% increase over the combined AOL and Netscape revenue in last year's March quarter. Advertising, commerce and other revenue was $275 million, up 94% from the same time last year.

Copyright April 1999, Crain Communications Inc.

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