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AMERICA ONLINE, INC., REPORTS 77 PERCENT INCREASE IN NET INCOME

 VIENNA, Va., Jan. 28 /PRNewswire/ -- America Online, Inc. (NASDAQ: AMER), reported today that net income increased 77 percent to $1,218,000, in the second quarter of fiscal 1993, which ended Dec. 31, 1992, up from $687,000 in 1992's second quarter. Earnings per share, excluding the benefit of net operating loss carryforwards, increased 50 percent to 12 cents in the second quarter of fiscal 1993 as compared with 8 cents in last year's second quarter, when approximately 17 percent fewer shares were outstanding.
 Total revenues increased 47 percent to $9,341,000 in the second quarter of fiscal 1993, up from $6,333,000 for the same quarter in fiscal 1992.
 The company had approximately 219,000 subscribers as of Dec. 31, 1992, an increase of 40 percent from the approximately 156,500 subscribers the company had as of Dec. 31, 1991.
 "This was an important quarter for America Online," said Steve Case, president of America Online. "We added a record 25,000 members, demonstrating the continued momentum of the America Online brand. We also announced plans to establish our technology as a common services platform, and we signed Apple Computer, Inc., as the first licensee. The future looks bright, and we will continue to invest in marketing, technology and content so we can expand our market share," added Case.
 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)
 (Amounts in thousands, except per share data)
 Three months ended Six months ended
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 Revenues:
 Net service revenues $ 9,015 $ 6,157 $16,783 $11,855
 Other revenues 326 176 326 356
 Total revenues 9,341 6,333 17,109 12,211
 Costs and expenses:
 Cost of revenues 4,185 2,950 7,738 5,594
 Marketing 2,006 1,352 3,790 2,412
 Product development 665 487 1,190 959
 General and administrative 1,345 907 2,248 1,737
 Total costs and expenses 8,201 5,696 14,966 10,702
 Income from operations 1,140 637 2,143 1,509
 Other income 137 65 258 67
 Income before provision
 for income taxes and
 extraordinary item 1,277 702 2,401 1,576
 Provision for income taxes (487) (267) (915) (599)
 Income before
 extraordinary item 790 435 1,486 977
 Extraordinary item -- tax
 benefit arising from net
 operating loss carryforward 428 252 835 569
 Net income $ 1,218 $ 687 $ 2,321 $ 1,546
 Earnings per share:
 Before extraordinary item $0.12 $0.08 $0.23 $0.19
 After extraordinary item $0.18 $0.12 $0.35 $0.30
 Weighted average shares
 outstanding(A) 6,617 5,473 6,595 5,113
 (A) As adjusted for February 1992 two-for-one stock split.
 -0- 1/28/93
 /CONTACT: Lennert J. Leader, chief financial officer, America Online, 703-448-8700/
 (AMER)


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

TW -- DC015 -- 0355 01/28/93 14:25 EST
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Date:Jan 28, 1993
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