Earnings: Ad Revenue Up Ahead of AOL Portal Launch; Settles At $2.4 Billion For Lawsuit

Time Warner’s AOL unit lost nearly a million subscribers last quarter, around four percent of its total base. Ad revenues, however, were up 45 percent to $320 million in Q2.

AOL brought in total revenues of $2.1 billion, down from $2.2 billion for the year ago period, as dial-up subscribers over age 15 fled in droves. The positive news on the advertising front was earnings of $30 million from paid search and $60 million from its Advertising.com unit.

WSJ: AOL’s profit rose 11% due to lower marketing and network costs as well as higher advertising revenues.

TheStreet.com: he company has also agreed to pay $2.4 billion to settle class action suits alleging bubble-era accounting misdeeds at America Online, and will reserve a total of $3 billion to settle outstanding securities fraud litigation.

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