In Q1 Earnings Report, AOL Reports Increased Display Ad Revenue For The First Time Since 2007

AOL successfully grew display ad revenue for the first time since the 4th quarter of 2007, the company announced today.

That wasn’t enough to offset other revenue declines, though, as the company’s intake fell 17 percent over the year to $551 million.

That’s an $11.8 million loss before taxes, depreciation, and amortization, or a $5 million profit—86 percent less than the profit AOL made in the first quarter of 2010.

But it’s okay, says AOL. That’s because AOL had to spend so much money on buying The Huffington Post, “increased investment in Patch,” and other sundries.

Seriously, though, the growth in display ad revenue is encouraging. Because AOL’s subscription business is still propping up the company but won’t for long: the subscription side of AOL brought in 25% less revenue than it did a year ago.