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. Last Updated: 07/27/2016

AOL Earnings Triple

DULLES, Virginia -- Third-quarter earnings for America Online Inc. tripled as the largest online service added 1.8 million new customers, helping it beat Wall Street estimates.

The company earned $117 million, or 11 cents per share, excluding charges, in the three months ended March 31. In the same quarter a year ago, AOL earned $39 million, or 4 cents per share.

Analysts surveyed by First Call Corp. had predicted earnings of 9 cents per share.

Revenue increased 66 percent to nearly $1.3 billion - the first $1 billion quarter in the company's 14-year history. Advertising, commerce and other revenues accounted for $275 million of the increase, up 94 percent over the year-ago period.