AOL Q1 Revenue Down as Display Advertising Softens

CEO Armstrong 'not happy' with the numbers

AOL chairman and CEO Tim Armstrong said he predicted business to rebound in the year after first-quarter revenue fell 4 percent year over year to $529.4 million on declines in U.S. display revenue, search and contextual advertising. 

Domestic display revenue, which accounts for 36 percent of AOL's ad revenue, fell 1 percent to $118.9 million. Search and contextual advertising revenue dropped 6 percent to $89.6 million. Google runs text-based paid search and contextual ads on AOL properties, and AOL said revenue from the relationship hit $84.5

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