America Online Releases Third Quarter Earnings Report

It looks like good news for America Online (http://www.aol.com). It reported record earnings for the third quarter of fiscal 2000.

The company's net income totaled $271 million, or $0.11 per diluted share, up from $104 million last year.

Third quarter revenues rose to $1.8 billion, or 47% over last year's March quarter.

In other metrics, AOL added 1.7 million new members worldwide finishing the quarter with 22.2 million subscribers.

Steve Case, Chairman and Chief Executive Officer, said: "This quarter's results underscore the tremendous strength of America Online's operations, and demonstrate that we are on a clear path to continued strong growth and increased profitability. Since we announced our landmark merger with Time Warner, we haven't missed a beat."

This month, AOL's broadband service AOL Plus launched featuring streaming audio and video content.