AOL Reports Another Strong Quarter, Makes Marissa Mayer and Yahoo Look Even Worse
REUTERS/Jim Urquhart
CEO of AOL Tim Armstrong attends the Allen & Co Media Conference in Sun Valley, Idaho July 12, 2012.
It beat expectations on revenue, but had a slight miss on EPS, which was down 3% compared to a year ago. It attributed the profit miss to increases in stock-based compensation, and amortization of intangible assets.
Investors are shrugging at the EPS drop. The stock is up 5% pre-market.
Digging into the numbers a bit, it looks like a solid quarter, especially when you consider three years ago AOL was a company that had been imploding for years. It's even better when you look at AOL versus Yahoo.
Total revenue was up 12% to $606.8 million. Display ad revenue was down 1%, but that's due in part to the fact that AOL no longer owns Patch, the local news business. If you ex-out Patch, AOL says display ad revenue was up 9%.
Yahoo's revenue over the same period was down 3%, and its display ad business was down 7%.
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