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AOL reports profits doubled during 4th quarter this year

SHARE AOL reports profits doubled during 4th quarter this year

SPRINGFIELD, Va. (AP) — With a burst of revenues from advertising and online commerce, America Online Inc. said it more than doubled its fourth-quarter profits and earned $1.2 billion for the year, beating analysts' estimates.

The company based in Dulles, Va., reported net earnings of $338 million for the three-month period ending June 30. That's up 115 percent from $157 million in the year-ago quarter.

Earnings for the quarter were 13 cents per share, two cents higher than estimates by analysts surveyed by First Call/Thomson Financial and seven cents higher than quarterly earnings a year ago.