AOL reported a major decline in profit on Wednesday. The company posted a first-quarter profit of $4.7 million, an 86 percent drop compared to the $34.7 million it made in the same period last year. Revenue also fell, by 17 percent to $551.4 million.
AOL’s acquisition of the Huffington Post played a major role in the losses. Expenses related to new properties HuffPo and goviral topped $9 million, plus AOL shelled out $8.4 million in compensation expenses to retain key talent.
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