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AMERICA ONLINE, INC. REPORTS 105 PERCENT INCREASE IN REVENUES

 VIENNA, Va., Oct. 28 /PRNewswire/ -- America Online, Inc. (NASDAQ-NMS: AMER) reported today that revenues increase 105 percent to $15,955,000 in the first quarter of fiscal 1994, which ended Sept. 30, 1993, up from $7,768,000 in 1993's first quarter.
 Net income, on a fully taxed basis increased 48 percent to $1,029,000, or 14 cents per share in the first quarter of fiscal 1994, as compared to net income of $696,000 and earnings per share of 11 cents in last year's first quarter.
 The company had approximately 387,000 subscribers as of Sept. 30, 1993, an increase of 99 percent from the approximately 194,200 subscribers the company had as of Sept. 30, 1992.
 "With record-setting results and growing momentum, the company has gotten off to an excellent start in fiscal 1994," said Steve Case, president and chief executive officer. "During the quarter, we added almost 1,000 net new subscribers each day. The steps that we are taking, consistent with our corporate strategy of growing the subscriber base rapidly and growing market share, are beginning to pay dividends," he added.
 America Online, Inc., is the nation's fastest growing provider of online services to consumers. The company offers its more than 400,000 subscribers a wide variety of services, including electronic mail, conferencing, software, computing support, electronic magazines and newspapers and online classes. Founded in 1985, the company has established strategic alliances with dozens of companies including Time- Warner, CNN, Knight-Ridder, Tribune Company, IBM and Apple. The company completed an initial stock offering in March 1992. Personal computer owners can obtain the American Online software at major software retailers and bookstores, or by calling 800-827-6364.
 AMERICA ONLINE, INC.
 Summary of Results
 (Unaudited)
 Three months ended
 Sept. 30,
 1993 1992
 (amounts in thousands, except per share data)
 Revenues:
 Net service revenues $14,299 $7,768
 Other revenues 1,656 0
 Total revenues 15,955 7,768
 Costs and expenses:
 Cost of revenues 8,474 3,553
 Marketing 3,511 1,784
 Product development 802 525
 General and administrative 1,974 903
 Total costs and expenses 14,761 6,765
 Income from operations 1,194 1,003
 Other income 467 121
 Income before provision for
 income taxes and
 extraordinary item 1,661 1,124
 Provision for income taxes (632) (428)
 Income before extraordinary
 item 1,029 696
 Extraordinary item -- tax
 benefit arising from net
 operating loss carryforward 0 407
 Net income $1,029 $1,103
 Fully diluted earnings
 per share:
 Before extraordinary item $0.14 $0.11
 After extraordinary item $0.14 $0.17
 Weighted average shares
 outstanding 7,441 6,579
 -0- 10/28/93
 /CONTACT: Lennert J. Leader, chief financial officer, of America Online, 703-448-8700/
 (AMER)


CO: America Online, Inc. ST: Virginia IN: CPR SU: ERN

DC-IH -- DC021 -- 8026 10/28/93 14:21 EDT
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Publication:PR Newswire
Date:Oct 28, 1993
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