Aol suffered sharp declines in quarterly advertising sales and dial-up subscriptions, driving overall revenue down 26 percent and showing the struggling Internet company has yet to turn the corner. Shares fell 5.1 percent.

AOL reported fourth-quarter earnings of $66.2 million, or 61 cents a share, as it lowered expenses. In the year-ago period, it earned $1.4 million or 1 cent a share. That period included $106 million in restructuring costs.