Not likely to be a sustainable business model…
Revenues at AOL fell by 26 per cent in the third quarter, hit by sharp declines in advertising and subscription sales.
In spite of the revenue slump, net income jumped 132 per cent to $171.6m, or $1.60 a share, from $74m or 70 cents per share a year ago, thanks to asset sales.
AOL sold instant messaging service ICQ in April for $187.5m, less than half of the $400m it paid for it in 1998. In June it sold Bebo, the social networking site it bought for $850m in 2008, reportedly for less than $10m.