AOL Latin America Posts 3Q Loss

Communications Today, Nov 8, 2001

America Online Latin America [AOLA], a unit of media giant AOL Time Warner [AOL], posted Tuesday a 2001 third-quarter loss of $69.1 million, or 21 cents a share, compared to a loss of $98.1 million, or 36 cents a share, a year ago.

The company said subscriber revenue grew this quarter to $13.7 million from $2.6 million a year earlier.

AOL Latin America attributed the narrowing loss to a reduction in its expenses. The company cut about 7 percent of its staff as part of a restructuring earlier this fall. >TK