AOL parent company Time Warner released its quarterly earnings this morning and the news is not pretty.
Revenue came in at $804 million, a decrease of 24% over Q2 2008, which brought in $1.06 billion. The decline was almost evenly split among online advertising ($111 million, a 21% decrease) and internet access subscriptions ($135 million, a 27% decrease).
Time Warner has spent $20 million so far in the process of prepping AOL to become a separate, independent company. Earlier this week, Time Warner bought back Google's 5% stake in AOL for $283 million, a big dip from Google's original $1 billion investment back in 2005.
Introducing SES Online
Want to view one of the sessions you missed or listen to an especially informative presenter a second time? SES New York sessions are available for purchase on ClickZ Academy's new e-Learning site. SES is now Online!