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American Online Reports Ad Revenue Slide
Adweek
News Source
2003-04-28
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NEW YORK AOL Time Warner on Wednesday reported that revenue for its American Online Internet unit totaled $2.2 billion for the first quarter, down 4 percent from the year-ago quarter.
Meanwhile, ebitda (earnings before interest, taxes, depreciation and amortization) for the Dulles, Va.-based online division climbed 18 percent to $404 million and operating income grew 11 percent to $194 million in the quarter.
The company attributed the rise in America Online's ebitda to the decline in restructuring charges. America Online recorded restructuring charges of $4 million in Q1, versus $75 million during the same period a year ago. Excluding onetime charges, ebitda fell 2 percent.
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