Topic:

Earnings

Earnings

Patch Is Good for AOL After All. Maybe?

Mr. Armstrong (aol.com)

Gianna Palmer is a guest blogger for Betabeat.

AOL released its fourth quarter earnings report today and not shockingly, profits are still falling. Q4 net income fell 66 percent to $22 million (23 cents a share) and revenue slipped 3 percent to $576.8 million. CEO Tim Armstrong seemed pretty happy, though.

“AOL took a large step forward in Q4 and I am very pleased with the way we ended the year,” Armstrong said.

At least one reason for Armstrong’s cheery outlook: AOL saw its ad revenue increase 10 percent to $363.8 million. To what does it attribute this growth? In part: its hyperlocal news effort Patch. Read More