Bebo

AOL posted a massive quarterly loss, having swallowed a Q2 goodwill impairment charge related to its sell-off of Bebo. To make things worse the company also reported that its advertising revenue dropped by 27% in the quarter ended June 30. In the same period a year earlier AOL pulled in $355.7m.

Overall revenues declined 26% to $584.1m during the quarter.

The loss reported by AOL made up $1.6bn, or $9.89 a share, compared with a profit of $90.7m or 86 cents a share in its 2009 Q2. AOL was also hit with a goodwill impairment charge of $1.4bn during the quarter.