AOL and CUC extend alliance to marketing
Article Abstract:
AOL and CUC International announced their sales relationship would be expanded to encompass a co-marketing agreement. The on-line service is looking for ways to increase its revenue to offset the pressure its feeling from price cuts and competition from other Internet access providers. The agreement between the companies is for three years. A number of CUC's services, such as automobile, travel and on-line shopping, will be placed in prominent positions on AOL. In addition, CUC will have access AOL's large customer database. In exchange, CUC has agreed to pay AOL an advance on the commission the Internet service will be earning, as AOL members begin to use CUC's services. The advancement is for $50 million dollars.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1997
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AOL posts loss on accounting change despite strong revenue, subscriptions
Article Abstract:
AOL experience an increase in revenue and subscribers during its fiscal fourth qtr ended Jun 30, 1997. However, the company was forced by federal regulators to make accounting changes for its third qtr and therefore recorded a loss of $11.8 million, or 12 cents a share. A net income of $10.9 million would have been reported by the company, except for the Securities and Exchange Commission requested AOL take a $24.5 million charge during the fourth qtr. The changes federal regulators suggested have once again brought attention to AOL's accounting practices. The company's revenue increased by 42% during the qtr to reach $475.7 million and revenue rose from $1.1 billion to $1.69 billion, up 54%.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
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