Company beats Wall Street Projections
Digital media and entertainment company AOL Inc reported a better-than-expected 13 percent rise in quarterly revenue as its advertising revenue rose, especially from video.
The company’s total revenue rose to $679 million in the fourth quarter ended December 31 from $599.5 million a year earlier.
Analysts on average had expected revenue of $655.8 million, according to Thomson Reuters.
Net income attributable to AOL rose to $36 million, or 43 cents per share, in the quarter from $35.7 million, or 41 cents per share a year earlier.
AOL, which owns the Huffington Post news website and TechCrunch blog, reported a 23 percent rise in advertising revenue due to higher sales of premium ad formats such as video.