By Julian Goldsmith, 18 July 2001 14:30
NEWS AOL has turned in a healthy second quarter report with shrinking losses of $734m. Losses were down from £924m for the same quarter a year ago. Total revenues rose by three per cent to $9.4bn. In a statement, CEO Barry Levin said: "Our record results are further proof that we are delivering on the promise of the AOL Time Warner merger." The company can take heart that its technology related businesses held their own in the conglomerate, which has interests right across the entertainment spectrum. Indeed its music division performed poorly. AOL's internet access service swelled by 1.3m new members, bringing the total to well over 30m. Time Warner Cable increased digital cable subscribers by 182 per cent to reach 2.5m.
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