Steve Case, founder and CEO of AOL, reported a painfully weak first fiscal quarter, ended 30 September, with a loss of nearly $354 million (#221 million) after being hit with a bill of $385 million for a new PR campaign.
AOL reported a loss of $3.80 per share for the quarter, compared to a loss of $0.14 per share ($10.9 million) for the same period a year earlier.
The worldwide PR campaign, which involved sending out videos and extensive advertising, is seen by many as a desperate effort by the company to hang onto the customers it has amid reports that so-called "churn" rates are too high for AOL to support.
AOL currently has 6.9 million subscribers worldwide.
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