America Online Earnings Explode

America Online Inc. said its fiscal fourth-quarter earnings rose almost seven times amid an increase in subscribers.

The Vienna, Virginia-based online services company’s net income rose to $6.18 million, or 13 cents a share, from $905,000, or 2 cents, a year ago. Revenue in the quarter ended June 30 more than tripled to $151.9 million, from $40.4 million a year ago.

The results in the latest quarter include charges for merger and amortization expenses totaling $1.18 million, or 3 cents a share. Wall Street analysts expected the company to earn 14 cents a share before charges, based on a survey of nine analysts.

America Online had 3 million subscribers in early July, compared with 900,000 a year ago, the company said. Analysts say the company added 300,000 subscribers since then.