NEW YORK, N.Y. - Internet company AOL says a $1.4 billion accounting charge pushed the company to a $1 billion-plus net loss in the second quarter.
It also saw advertising revenue fall at an even quicker rate than in the first quarter. And its subscription dial-up Internet business continued to erode.
The company said it lost $1.06 billion, or $9.89 per share, in the April-June period. That contrasts with net income of $90.7 million, or 86 cents per share, in the year-ago quarter.
AOL Inc. says revenue fell 26 per cent to $584.1 million. Advertising revenue fell by 27 per cent to $296.9 million. Subscription revenue also fell 27 per cent to $260.2 million.
