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AOL Time Warner reports fourth-quarter financials

Media conglomerate AOL Time Warner this morning reported a fourth-quarter loss of US$1.8 billion, or 41 cents per share, due primarily to a $1.7 billion write-down in some investments. Excluding such one-time charges, earnings for the quarter came in at 33 cents per share, while revenues grew 4 percent from the year-ago quarter to $10.6 billion. The results were in line with lowered expectations. During the quarter, AOL added 1.9 million new subscribers to its Internet service, for a total subscriber base of 33.2 million.

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