Investors sent shares of AOL sharply higher after it reported higher-than-expected earnings and growth in advertising revenue. The company reported a third-quarter profit of $20.8 million, or 22 cents per share, on revenue of $531.7 million. That beat expectations of $521 million and marked a turnaround from last year’s net loss of $2.6 million during the same time period. An increase in global ad revenue was a significant part of AOL’s growth this quarter, rising 7 percent to $340 million.
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Ad, Content Combo Lifts AOL to Profit in Q3
Posted by: Rachelle Dragani November 7, 2012 12:07 PMInvestors sent shares of AOL sharply higher after it reported higher-than-expected earnings and growth in advertising revenue. The company reported a third-quarter profit of $20.8 million, or 22 cents per share, on revenue of $531.7 million. That beat expectations of $521 million and marked a turnaround from last year’s net loss of $2.6 million during the same time period. An increase in global ad revenue was a significant part of AOL’s growth this quarter, rising 7 percent to $340 million.