AOL Profit Up; SEC Disputes Accounting

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AOL TW said second-quarter earnings rose sharply amid hit films such as β€œThe Matrix Reloaded,” strength at its popular cable TV networks, and cost-cutting at its struggling America Online unit.

Revenue rose 6 percent to $10.82 billion from $10.57 billion a year-earlier. Earnings before a range of costs, fell to about 12 cents a share, compared with 24 cents a year-ago.

Also read details on SEC probe.

Another story on News.com: β€œSubscriber loss dampens AOL gainsβ€œ

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