AOL Plans to Restate Results
After the market close Wednesday, America Online (AOL ) reportedly said it will restate results for the quarter ended September 2000 through the quarter ended June 2002. The move will reduce advertising and commerce revenue by about $190 million, and lower earnings before interest, taxes, depreciation, and amortization (EBITDA) by about $97 million, according to the Wall Street Journal. The media giant reported third-quarter revenue increased 6% to $10 billion, in line with its projection, and EBITDA fell 1% to $2.2 billion, in line with its forecast, according to news reports.
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