Article Abstract:
America Online disclosed that fiscal first-quarter profit almost doubled on record subscriber growth as executives dismissed concerns about itts vulnerability to weaker advertising spending. However, some analysts are still worried about a slowdown that may result from the ongoing shakeout in the Internet industry and weakening retail sales. The company posted a net income of $350 million, or 14 cents a share, excluding one-time expenses, in comparison to $182 million in the corresponding period in 1999.
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Article Abstract:
Lower network costs and 1 million new members enabled America Online (AOL) to double its profit for 4th qtr 2000. AOL reported a net income of $334 million or 13 cents per share, which is higher by six cents per share than for the same period in 1999. The company also reported an impressive $1.2 billion in subscription revenue, an increase of 26% for the same quarter in 1999. It also posted advertising and commerce revenues of $503 million, 7% higher than that for 3rd qtr 2000.
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Article Abstract:
Internet-based retailers wrote off $230 million in losses from credit card fraud in 1999, a figure amounting to 1.2% of all sales made through cyberspace. The study, conducted by Gartner, identifies online retailers as 10 times more prone to such fraudulent activities as traditional retail establishments. The absence of any identification and a signature during online transactions increases the risks for these already struggling dot- coms.
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