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AMERICA ONLINE, INC., REPORTS 36 PERCENT INCREASE IN SERVICE REVENUES

AMERICA ONLINE, INC., REPORTS 36 PERCENT INCREASE IN SERVICE REVENUES
 VIENNA, Va., Oct. 27 /PRNewswire/ -- America Online, Inc. (NASDAQ: AMER), reported today that service revenues increased 36 percent to $7,768,000 in the first quarter of fiscal 1993, which ended Sept. 30, 1992. Operating income, excluding other revenues, increased 45 percent to $1,003,000.
 Net income increased 28 percent to $1,103,000, or 17 cents per share in the first quarter of fiscal 1993, as compared to net income of $859,000 and earnings per share of 18 cents in 1992's first quarter, when approximately 27 percent fewer shares were outstanding. Earnings per share, excluding the benefit of net operating loss carryforwards, was 11 cents in the first quarter of both fiscal 1993 and 1992.
 The company had approximately 194,200 subscribers as of Sept. 30, 1992, an increase of 39 percent from the approximately 140,000 subscribers the company had as of Sept. 30, 1991.
 America Online, Inc. is the leading independent provider of online services to consumers in the United States. The company offers subscribers a wide variety of services, including electronic mail, conferencing, news, sports, weather, stock quotes, software, computing support and online classes. These services can be accessed from a broad range of personal computers using America Online's proprietary icon-based windowing software.
 AMERICA ONLINE, INC.
 Summary of Results
 (Unaudited)
 Three Months Ended
 Sept. 30
 1992 1991
 (amounts in thousands,
 except per share data)
 Revenues:
 Net service revenues $ 7,768 $ 5,698
 Other revenues 0 180
 Total revenues 7,768 5,878
 Costs and expenses:
 Cost of revenues 3,553 2,644
 Marketing 1,784 1,060
 Product development 525 472
 General and administrative 903 830
 Total costs and expenses 6,765 5,006
 Income from operations 1,003 872
 Other income 121 2
 Income before provision for
 income taxes and extraordinary
 item 1,124 874
 Provision for income taxes (428) (332)
 Income before extraordinary item 696 542
 Extraordinary item - tax benefit
 arising from net operating loss
 carryforward 407 317
 Net Income $ 1,103 $ 859
 Earnings per share:
 Before extraordinary item $0.11 $0.11
 After extraordinary item $0.17 $0.18
 Weighted average shares
 outstanding(A) 6,595 4,803
 (A) As adjusted for February 1992 two-for-one stock split
 -0- 10/27/92 R
 /CONTACT: Lennert J. Leader, chief financial officer, America Online, Inc., 703-448-8700/
 (AMER) CO: America Online, Inc. ST: Virginia IN: CPR SU: ERN


KD -- DC020 -- 5577 10/27/92 15:24 EST
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Publication:PR Newswire
Date:Oct 27, 1992
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